jackooo

Much Ado about the Strategic Petroleum Reserve

If the Bush administration opened Alaska to drilling, which they just did with leases being signed last week before the polar bear being listed as endangered, do you think oil would drop in price?
If those wells started producing tomorrow, instead of 8 years from now, what would Exxon or Chevron sell the oil for in dollars?
Not for $40/barrel. Not for $100/barrel. They would sell it for the most they could get for it. The extra capacity would be a blip on the world market so the supply would be nil.
Now. If the leases were sold by the govrnment and had a clause in it that said you sell it to only the USA at cost plus a percentage then that would work. But to helter skelter sell them leases to drill and then they sell the oil to other countries at top dollar while ruining the ecological system with pollution and the destruction of lands, well it doesn't make "cents" to me.