Foreign Oil Independence?

Question

Can someone explain to me why drilling for more of our own oil would not the United States?

Currently the US uses about 400 million gallons of gasoline per day. Seems like a lot. There are approximately 100 million households in the US so that 400 million gallons equates to about 4 gallons per family per day. Not a whole lot...

But.... of the 400 million gallons of gasoline we all use per day we only make about 100 millions gallons of ourselves.

75% comes from somewhere else. Most of it comes from Canada and Mexico. Only about 20% comes from the Middle East.

So why does drilling for our own oil not make any sense? It ours. The more we drill for ours the more we keep (which technically is't true since oil is traded on an open market).

Solar power does not work today on a large scale. It may not work for a decade or two or ever.

Wind will never work on a large scale everyday. Even where its used today, there are gas genorators to supliment the supply.

But, oil works.

Answer 1

Because their is not a U.S Oil market, there is only a World Oil market.

Answer 2

I agree 100%. Drill here, drill now, pay less!

Answer 3

There is a huge oil deposit which covers half of Wyoming and extends into several surrounding states.  Why don't we drill for it?  Because it belongs to the US Navy.  Make the Navy give up this oil.  This deposit is called the Teapot Dome.  Look it up.

Also since Ronald Reagan was president, there has been a huge well head tax.  He was the one that put it into law.  Until this tax is removed, the oil companies will not drill like they did before this tax.  It is easier and cheaper for them to go elsewhere to get the oil.  

Solar and Wind power does not work, because big companies can not figure out a way to make money from it.  Once you have your system set up, you don't need anything else.  Plus you can sell back your surplus to the utility companies.  Of course, if we all did that the utility companies would not be making a profit.  So that won't work.

Answer 4

Actually the US does produce alot of it's own oil, but not nearly as much as OPEC produces.  The reason the US is limited in it's production is based on two major factors:

1.  Restrictions placed by the government in response to environmental issues;

2.  Oil in the US is basically a monopoly (Exxon is making 10 billion dollars every 3 months alone)