Question about offshore drilling and whether oil cos. have to sell the oil here.

[mrreowwr_kittty]

I heard recently, on Air America or Nova M, and I'm not sure who the host was, that the Democrats introduced an amendment to require that any oil extracted from offshore or ANWR drilling had to stay in this country. They said that the GOP blocked the amendment because it would be an impediment to the "free market" or whatever. I only heard it that one time and it fits the Repukes' MO. I've been searching all over the Internets for something about it but I can't find it.

Does anyone know what I'm referring to? Any help would be appreciated.

[napi21]

1. I can't say for sure, but I've read many times that all oil that's pumped goes

on the market which means anyone can buy it. I have no idea if that's true for sure, but it makes sense.

[magellan]

2. This might help

Not about a specific amendment but same thinking. From July this year:

http://uk.reuters.com/article/oilRpt/idUKN0325640920080703?sp=true

snip...

The White House said it was against requiring U.S. oil products to stay at home.

"Forbidding exports of U.S. petroleum reduces the incentive for domestic suppliers to produce, and could potentially lead to higher prices if U.S. production or refining declined," said White House spokesman Scott Stanzel.

snip/more....

[mrreowwr_kittty]

4. Thank you! This is useful. nt

[Old and In the Way]

3. They'd have to create legislation to force them to sell exclusively here.

Which is counter to Republican definitions of free markets. It's impractical, too. It's a commodity market. Would they sell this at a reduced rate? Doubtful. But here's the kicker. If you are an oil company, why would you risk capital and drill when you can send your oil tanker to Saudi Arabia and get all you want? There's no guarantee that the well you drill will produce and there's always the problems with storms that could wipe your investment out completely.

But I'm sure Big Oil has no problem letting Republican Congressman use this concept as a way of diverting why they've done nothing to secure our country's energy independence since the 80's.