“We” don’t drill for oil.Posted: October 22, 2012
(Posted today by a writer named Nichomachus at Democratic Underground.)
The minute someone says “we” in the same sentence with drilling for oil, someone should smack them up alongside the head.
In some countries, oil is drilled by a government consortium. However, that would be the dreaded “socialism.” What people mean by “drilling” in the US is giving giant multi-national oil corporations the rights to drill, if they want.
Often, they want the rights, but they don’t want to drill. If they flood the market with oil, the price goes down – and their profits go down.
What these companies want is the “right” to drill – and the right to keep anyone else from drilling.
Remember all those people who said the invasion of Iraq was about drilling for oil? They were wrong. It was about giving the companies the right to not drill for oil and keep the price high.
And even when these companies do drill, they extract just enough to keep the price steady or slightly higher and they do so at the lower cost possible, leading to things like well explosions, etc. Then, no matter where they drill the oil – Iraq, Alaska, the Grand Canyon – it gets sold on the world market to the highest bidder.
So, we could give the giant oil companies the right to drill all over the US, but it would not increase our supply of oil or lower the price.
Anyone who tells you otherwise is either woefully ignorant or in on the scam – or both.