If We Drill in the U.S., We Don't Get the Oil

If We Drill in the U.S., We Don't Get the Oil
http://www.alternet.org/environment/93619/
The oil that comes from offshore drilling will belong to the
multinational firm, like Exxon-Mobil and will go to world markets, not
us.
One thing has been driving me crazy about this drilling debate --
everyone seems to assume that if we drill for oil in the US, that we
will get the oil. And hence, we won't be dependent on foreign oil
anymore. But we won't get anything, Exxon-Mobil will.

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.

The Democrats have done a decent job of beating back the argument that
this will effect prices in the short run, or even in the long run. But
no one has addressed the point above. The Republicans make it seem
like we won't be dependent on foreign oil -- and that prices will go
down in the US -- if we have our own oil. But it won't be ours. And it
will be sold on the world market, so its effect on global oil prices
will be even smaller.

When we ask the question of whether there should be drilling off the
coast of Florida or in the Arctic National Wildlife Refuge, we should
ask the question this way -- would you be comfortable with the Chinese
or the Germans or Russians or the Saudis drilling on American land?
Because for all intents and purposes, they will be.

Large multi-national firms like Exxon-Mobil are not US property. They
sell to the world and their allegiance is to corporate profits. So,
when they drill, they drill for the whole world, not just us. Some
might find that heart-warming, but it certainly has nothing to do with
the US having more oil or lower prices.