“What I don’t understand is: how do we buy oil from opec? Isn’t it the oil companies that buy from opec ?
Even if we drill everything (and we should) how does that stop the oil companies from buying from opec ?”
The oil companies are happy to buy oil on the world market, because they can sell it in America at the highest price, with maximum profit for themselves.
But if the country oil production would dramatically increase and the oil at the pump will be cheaper than the one imported, free market rules will make the companies to buy and sell ONLY American-produced energy.
That's not exactly correct, and sort of smacks of anti oil company liberal invective, which I do not expect from you. The oil companies would prefer to develop their own resources here and control the entire chain - even at a much lower ultimate price at the pump - than to do what they are having to do now. They realize that high prices can screw up our entire economy and our entire future, and these are companies who invest billion and billions of dollars on long term ventures and are not at all happy about anything the jeopardizes our economy.