Drilling For Oil Doesn’t Reduce America’s Dependence On Foreign Oil

Oct 27 2011 Published by under Uncategorized

The Republicans for years have told the U.S. citizens that we need to drill for more oil in order to get off our dependence of foreign oil. The problem with this is idea is that all oil goes into the global market. All American oil is sold through the Chicago Mercantile Exchange.

The CME brings our oil, an American natural resource, onto the global market to be sold on behalf of the corporation that drilled it. In fact, America has been exporting millions of barrels a day. In 2008 the United States exported 1.7 million barrels, up from 1.048 million in 2004 according to Index Muni.

Oil that is extracted from the United States does not stay in the United States. What drill, baby, drill does is increase the amount of oil Exxon can extract, then export and sell, period!

If we allowed every oil companies to drill wherever there was oil, without restrictions, that oil would be put onto the global market and not benefit the United States in regards to reducing oil imports.

All the Republicans want to do is increase the amount of oil Exxon can extract and sell on the global market. This is how the market works. It has nothing to do with foreign oil or funding terrorism. All it has to do with is increasing the profits of the few oil corporations, like Exxon, while destroying many acres of land, such as in Alaska.

As of 2008 the United States produced 8.6 million barrels a day, we exported 1.7 million of those barrels, and consumed 19.6 million and imported 11.3 million. If the Republicans and oily Democrats were really concerned about our dependence on foreign oil, they should be asking why American oil is being exported rather than staying here in the United States.

As this link shows, the more oil the United States drilled, the more we exported. The bottom line is drilling doesn’t take us off foreign oil, but green energy does.

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