To be honest I would rather buy cheap oil from overseas than use our limited resources anyway. Use Russia’s oil first. He who has the last barrel of oil will rule the world. The real money is to be made on refining and burning the oil anyway. Not pumping it or selling it. What he should do is approve the pipeline and let the industry build another refinery or two.
No that is utter and total and complete nonsense. As oil gets used up alternatives to oil will become more economically feasible. New technologies will emerge to replace oil.
The result is oil is a economic wasting asset that eventually will be worthless. He who owns the last barrel will be holding a unless antique valuable only as an oddity from history.
no... bring back production the the US. I would pay a couple pennies more to bring down foreign hostile governments.
The counter-argument is that Russia will use the profits from our money in other ways that will not be a benefit to us, and we will burn off what we purchased in no time.
Wouldn't it be better if we sent that same money to our own oilfield workers as wages, so they can spend that money in their local restaurants and shops?
-PJ
That's not a rational position. I can explain if you care.
The key is to open our oil to the maximum production. Export oil and gas. Import only Canadian and Mexico oil (we will then own their economy). Bring Saudi and Russia to their knees with low priced oil. Saudi rulers only stay in power because they pay their Mullahs. When the wolves are at their door watch them change tunes. Roll back all the stupid rules that drillers must follow.