Who will get our oil?

Question

When we drill here in the USA the oil gets sold to the highest bidder. What good does it do us to drill now, drill everywhere? China or some other nation can outbid us for our oil. The oil companies are not nationalized, so how will this help us beside a band aid effect?

Answer 1

Because it increases total global production, mitigating peak oil and buying us time to get alternatives on a massive scale.  It would also mean lease revenue coming in, which if one would like could be funneled into R&D for alternatives.

Answer 2

Probably China

Answer 3

The highest bidder, as you say.  

World demand is only going to increase in the short term, dramatically.  If we drill our remaining reserves, they will not significantly affect the price, and will be quickly exhausted.  

We will then be utterly dependent on foreign sources, for our defense as well as for our frivolous, unnecessary consumption habits.  

The only reason this extremely bad idea is getting any political traction, is because so many powerful people in the oil industry would stand to make so much money, selling off this vital national asset.  

We had overy thirty years of relatively cheap supplies, since the oil crises of the mid seventies, to "get our alternatives on line."  

The idea that a few more years of respite, even if we could get it, is all we need to get our act together in that regard, is a sheer rationalizaiton, an entirely insincere lie, such as addicts tell themselves to justify one more fix.

Answer 4

read up on global commodities, increased supply lowers prices no matter who we sell the oil to, even ourselves

Answer 5

Why can't we buy our own? Nothing is stopping us.We already use our own as well as buy from specific other countries. We can eliminate our buying from countries we don't like, and reinvest the money here. Are you trying to say we don't use any of the oil we produce now? Come on. You just increase that number, and keep the money here instead of in the hands of countries that don't like us.