[jpsb]

Oil is a vital finite natural resource, why pump US oil for the Chinese when we already import 50% of the oil we use? This is just more crony capitalism. US consumers will get screwed. It appears short term profits over rule long term strategic thinking, again.

[thackney]

Would you read post 24?

Do you honestly believe our oil producers work at below market rates already, and would continue to invest more dollars in a market that pays below market returns?

[ConservativeDude]

Oil is a vital finite natural resource”

I think part of the issue here is that there is no such thing as “oil” as in one single commodity, that is exactly the same in all times and places. There is a big difference in grades/classifications of crude, and therefore big differences in how they are treated at the next stage.

The best markets currently for crude that needs less refining are export markets. Accordingly, they need to be opened up....so production can continue, and yes, eventually domestic refining will pick up to handle this new type of crude. But in the meantime, we don’t want production to stop...and part of that is for the reason you noted, national security.

That’s sort of how I see it....