I’m confused. If an oil company, owned by investors from all over the world, drills in U.S. territory and produces large amounts of oil, can the U.S. Government force the oil company to sell their product to the American people for less than the oil company can get from other nations?
No they cannot but the fact all this oil comes into the market place would invoke the economic laws of supply/demand and causes the price to drop.
Look at it this way as an example. If we were able to suddenly, magically have all this oil available to us in 7 days time, to draw from at will, what do you suppose would happen to world wide oil prices when the news hit that America would no longer be importing oil?
My guess is the price of crude would drop limit down every day until it eventually settled in the area of about $35-$45 bbl. It would be a blood bath in the NYMEX trading pits and a beautiful thing to see.
Sorry, only MSM rhetoric allowed.
Disabled vet here, and yesterday put a sweet, healthy, fat royalty check in the bank. Drive 60 mph on highway, accelerate as if an egg was beneath gas pedal, keep tires slightly overinflated, and write out destinations and go from point A to point B to point C...