larryW2022 0 LW January 11, 2023 Oil and gas produced in the US does not belong to the US Government, nor to its citizens. It belongs to the company who purchased the rights to the oil, whether Exxon or BP or Royal Dutch Shell or Conoco. These companies have no loyalty to the US and sell this oil to whomever will pay the most for it because that's the way business works. The only way for the actual USA to become "oil independent" would be for the US government to nationalize the oil industry. Quote Share this post Link to post Share on other sites
Eyes Wide Open + 3,539 January 11, 2023 Just a passing thought. https://www.justice.gov/enrd/history-federal-use-eminent-domain Quote Share this post Link to post Share on other sites
RichieRich216 + 454 RK January 11, 2023 You make some good points, however some of the oil is not a grade that we can refine, this is why some oil is exported. To change this more refineries need to be built but with the woke green warriors no company will invest in something that will be a target. There’s no doubt we have the oil but as stated above we can’t get it refined. 1 Quote Share this post Link to post Share on other sites
Jay McKinsey + 1,489 January 11, 2023 US is a net exporter of coal, natural gas and petroleum. We are absolutely energy independent. Quote Share this post Link to post Share on other sites
Jay McKinsey + 1,489 January 11, 2023 3 hours ago, RichieRich216 said: You make some good points, however some of the oil is not a grade that we can refine, this is why some oil is exported. To change this more refineries need to be built but with the woke green warriors no company will invest in something that will be a target. There’s no doubt we have the oil but as stated above we can’t get it refined. Yes we can absolutely refine it. We just produce more than we need. We import heavy oil that we do not produce because it is difficult to refine and we have the refineries that can do it so the world sends their heavy oil here to be refined. Quote Share this post Link to post Share on other sites
Jay McKinsey + 1,489 January 11, 2023 4 hours ago, larryW2022 said: Oil and gas produced in the US does not belong to the US Government, nor to its citizens. It belongs to the company who purchased the rights to the oil, whether Exxon or BP or Royal Dutch Shell or Conoco. These companies have no loyalty to the US and sell this oil to whomever will pay the most for it because that's the way business works. The only way for the actual USA to become "oil independent" would be for the US government to nationalize the oil industry. We are oil independent but I just wanted to point out that simply banning oil exports the same as they were from 1975 to 2015 would achieve your same ends. Quote Share this post Link to post Share on other sites
RichieRich216 + 454 RK January 12, 2023 5 hours ago, Jay McKinsey said: Yes we can absolutely refine it. We just produce more than we need. We import heavy oil that we do not produce because it is difficult to refine and we have the refineries that can do it so the world sends their heavy oil here to be refined. We just need to quit refining our oil into “ petroleum products—such as gasoline, heating oil, diesel fuel, and jet fuel and then export it. Quote Share this post Link to post Share on other sites
Jay McKinsey + 1,489 January 12, 2023 5 hours ago, RichieRich216 said: We just need to quit refining our oil into “ petroleum products—such as gasoline, heating oil, diesel fuel, and jet fuel and then export it. That would be fine with the Democrats. It's the Republicans who are against it. But you do realize that we would still export just about as much because as I said the oil we import is because we have the advanced refineries that can handle it. Quote Share this post Link to post Share on other sites
RichieRich216 + 454 RK January 12, 2023 It’s not a one party issue ! Quote Share this post Link to post Share on other sites
Jay McKinsey + 1,489 January 12, 2023 13 minutes ago, RichieRich216 said: It’s not a one party issue ! Yes it is. Republicans alarmed after Biden official floats ban on crude oil exports https://www.foxbusiness.com/politics/republicans-alarmed-biden-official-floats-ban-crude-oil-exports Quote Share this post Link to post Share on other sites
RichieRich216 + 454 RK January 13, 2023 You are looking at the issues that you think that you’re issues are reality, when in fact it’s the perception of reality! Take the 2022 Total World Debt, somewhere over 220 TRILLION and charge just One Percentage Point of interest, do you think that it will be paid and not just interest? Most believe think yes because it’s their perception of reality! Quote Share this post Link to post Share on other sites
RichieRich216 + 454 RK January 13, 2023 Take U.S.Debt: The public holds over $24.29 trillion of the national debt. 1 Foreign governments hold a large portion of the public debt, while the rest is owned by U.S. banks and investors, the Federal Reserve, state and local governments, mutual funds, pensions funds, insurance companies, and holders of savings bonds.Oct 4, 2022 Quote Share this post Link to post Share on other sites
RichieRich216 + 454 RK January 13, 2023 Countries and world leaders, and large corporations, and the largest banks around the world all know that this is just one big game and they have created so many instruments of debt that I can’t possibly be paid back so they have you look at green energy meatless meat, Ect.. anything that will take your mind off what’s really happening like a warrior crane a possible war in Taiwan etc. etc. etc.! Quote Share this post Link to post Share on other sites
RichieRich216 + 454 RK January 13, 2023 Like the war in Ukraine, and somebody dig up Steve Jobs and kick him in the ass because after all these years, speech to text still sucks on iPhone pardon all above errors . Quote Share this post Link to post Share on other sites
RichieRich216 + 454 RK January 13, 2023 These are the real reasons you will not see the end of oil because it has a value you will not see the end of natural gas, because it has a value you will not see the end of coal because it has a value you will see gold silver platinum, palladium cobalt, because it has a value and any and all precious stones because they have a value and that value could be over inflated to compensate the hole in which this world has dug his self into. Quote Share this post Link to post Share on other sites
specinho + 440 January 16, 2023 (edited) On 1/12/2023 at 12:50 AM, larryW2022 said: Oil and gas produced in the US does not belong to the US Government, nor to its citizens. It belongs to the company who purchased the rights to the oil, whether Exxon or BP or Royal Dutch Shell or Conoco. These companies have no loyalty to the US and sell this oil to whomever will pay the most for it because that's the way business works. The only way for the actual USA to become "oil independent" would be for the US government to nationalize the oil industry. you might want to imagine this: you or/ and your forefathers spent a life time in trial and error to build a business from scratch. And then, someone is suggesting the government, who never sweat a drop in your work nor contribute a cent in your effort but keep increasing taxes so that government officers can spend it on luxury year end official vacation with families visiting toilets of a few countries, to own it............Under common term, it might call snatch thief. Under civilized term, it is nationalization........ There is a difference between oil and gas operation in developed countries and developing/ less developed countries..... The former is fully privately owned; the later is probably a joint venture between those who know what / how and those who do not know..... Why is this raised? How do we connect oil independent and nationalization? Edited January 16, 2023 by specinho Quote Share this post Link to post Share on other sites
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