National versus foreign oil?

Discussion in 'Political Discussion' started by MrBigglesWorth, Apr 25, 2008.

  1. MrBigglesWorth

    MrBigglesWorth Veteran Starter w/Big Long Term Deal

    Apr 28, 2006
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    +32 / 0 / -0

    Someone please clear this up:

    If we drill more national oil, who gets those profits?

    A. Let's say exxon drills oil at anwar and they are able to get oil at $30 a barrel after drilling, transporting, and refining costs?

    B. Foreign oil, is $115-120 a barrell

    Each barrel is then divided up and sold for $3.50 a gallon.

    obviously example a get's $90 profit and foreign oil at not much profit.

    I know some of the details are off, but can I say that even if we drill our own oil then the price will not substantially go down? it will only go down because supply is up, but won't consumption just go back to where it is and people won't be conserving?

    how is it possible for exxon not to make huge profits? we can't average everything out or even make exxon supplement the foreign import cost.

    anyone have any insight?

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