We Need To Nationalize The Oil Industry In The U.S.

America has abundant natural resources to include oil. We have a huge amount of oil in Alaska, the Gulf of Mexico and beneath the Rocky Mountains.

The problem with importing oil is that we are then at the mercy of foreign oil cartels like OPEC who determine production rates and price so we get screwed at the pump.

This is America and we are Americans right? This is our country right? Is it not also right to believe that all those natural resources belong to us, the American people as well? Then nationalize the oil companies and all oil exploration within our borders and in the oceans out to international waters. That way we won't be at the mercy of oil cartels and the American people can get a slice of oil profits in the rebate checks they get yearly or quarterly. Yes, that can be written into agreements with whomever drills for the oil.

I know I'll get hammered by those on the right for advocating basically the same thing Hugo Chavez is doing but this is America, we have a Representative Republic and through our elected representatives we could do this in a way that is beneficial to the American people, not just the oil companies. We have to break the control of big oil somehow. Just look how it's destabilizing our economy and squeezing those who can least afford these wild price spikes.

Thoughts?

Are you crazy, or just stupid? The reason we import so much oil is the government prohibits oil exploration and drilling, not because the imaginary oil cartels send oil out of the country. Not to mention that nationalization only works in rainbow land.
 
A single salient fact in this conversation. We have 3% of the worlds reserves, we use 24% of the worlds oil. The single biggest find in the US in recent years, the Bakkan formation, has 3.65 bbls.

The Bakken was "discovered" in the 50's with the drilling and production in the Sanish Field. It isn't a recent find. And the USGS estimated 3.65 billion barrels of technically recoverable. Not in place, not reserves, but undiscovered resource.

OldRocks said:
We import 10 mbls of oil a day. So that find would last about a year, were we to recover every barrel.

Fortunately some 30-50 billion barrels of oil was discovered around the world in 2010. Reserve growth has been adding, on average, another 30 billion a year. Fortunately, we have been finding quite a bit oil over the past few decades.

OldRocks said:
What we face is an ever increasing demand for a commodity that is becoming harder to find, and we must use ever more expensive technology to find it.

What we face is control of most of that oil in NOC's outside of the control of efficient US major oil production techniques.

I recommend using less, saving money, and considering a new form of transport that allows you to forget about all those prices they post at the gas station. American coal and natural gas making American electricity to run American cars! Yeah Baby! How about some voluntary protectionism!

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Are you crazy, or just stupid? The reason we import so much oil is the government prohibits oil exploration and drilling, not because the imaginary oil cartels send oil out of the country. Not to mention that nationalization only works in rainbow land.
Not crazy, just Mad! :lol:
You know I found an article from current.com about Norway and their nationalization of their oil industry:
Oil-rich Norway has most expensive petrol prices // Current
"In Norway, many motorists are up in arms over why they have to pay the highest petrol (gasoline) prices in Europe when the country is the world's fifth-largest oil exporter and a recent tax hike has done little to cool tempers.

"It is really strange: we have lots of oil and we're a rich country. Why do we have to pay so much?" asks Per-Arne Skjerpingstad, a 38-year-old hospital porter as he fills up the tank of his Peugeot 307 at an Oslo gas station for 750 kroner (94 euros, 148 dollars).
$148 US to fill up his Peugeot! :eek:

OPEC cuts output. Liberals here don't want to drill for fear of "obscene oil company profits". So what's the alternative? Liberals would have us ride bicycles and OPEC would rape us for oil.

Neither ideas will work. You watch, when gas reaches 6-7-8 dollars a gallon we will begin to drill for oil here again but you'll see, the price won't go down.
 
Watch out for neo-socialists who came out in the last two years from what ever rocks they were hiding under and recommend nationalizing energy or food or transportation or information or medical services. Remember that Obama appointed a communist to be on his "green jobs" board. Nationalization is the last desperate effort of a failed socialist administration. Does anyone seriously believe Harry Reid or Nancy Pelosi can run an oil company? They couldn't even run an in-house post office without stealing stamps.
 

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