Debunking The Oil Drilling Myth

Posted on 07/23/2008 at 1:58 pm by Bob Cesca

Cenk:

The oil that comes from that drilling will not be United States property (Republicans aren’t suggesting we nationalize the oil companies, are they?). It will be the property of whichever oil company got the rights to that contract. They can then sell it to whoever they like — and they will. They will sell it on the world market, so the Chinese will have just as much access to the oil that comes out of the coast of Florida as we will.

Who in the BBQ set will ask Senator McCain about this?

By the way, I’m going to be on The Young Turks tonight at around 10PM EDT.

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  • Nanotyrannus

    I saw a Fox & Something interview with Naomi Klein the other day where she stated that once again the administration is using ‘shock’ to push through unpopular proposals at a time when Americans might just be convinced to go along. The ‘shock’ of high oil/gas/energy prices is being used to justify doing something that benefits the industry and does absolutely nothing for us.

  • El Mystico

    But…but…What’s good for business is good for America, right? Rockefeller and Andrew Carnegie and the Enron dudes told me that. And I believe them.

  • KidDynamo0

    Bob,Can’t wait to see you on there. I am a member of the Young Turks (woot woot)! You should check out the interview Cenk had with Paul Alexander yesterday. He took him to task…

  • PackyJ

    Something to keep in mind: Just because the oil industry receives approval to drill doesn’t mean they WILL drill. It’s about the money, not about any long-term (or even short-term) coherent energy policy, and it DAMN sure ain’t about making Americans “feel better” about taking it up the ass on energy prices.http://news.yahoo.com/s/ap/20080721/ap_on_bi_ge/oil_profitsFrom the article:”The percentage they spend to find new deposits of fossil fuels has remained flat for years, in the mid-single digits.”Bush/McCain are pretty damn sure the American public just doesn’t get it… and up until now, they’ve been correct in that assumption, while their cronies keep getting richer.

  • mohuss

    Not entirely certain of this… but I heard it mentioned that it is ILLEGAL to export US oil… is this true? and yes, I realize it’s a fungible product, etc, etc… but just wondering…

  • thruwithbuzz

    It may be illegal to export US oil, I don’t know. But do you really think the oil companies are worried about what’s legal?

  • http://www.intoxination.net IntoxiNation

    The U.S. exports over 1 billion barrels a day. Actually a large amount of the oil we pump out of Alaska goes to China. Our refined exports (gas and diesel) have soared also. It’s up over 30% from last year. This whole “we need to drill here” thing is nothing but more handouts to the oil companies.