It's Not Our Oil

Cenk Uygur reminds everyone that the oil companies will decide what to do with any oil drilled in the U.S., and it's likely they won't only be selling it to us.

The oil that comes from that drilling will not be United States property (Republicans aren't suggesting we nationalize the oil companies, are they?). It will be the property of whichever oil company got the rights to that contract. They can then sell it to whoever they like -- and they will. They will sell it on the world market, so the Chinese will have just as much access to the oil that comes out of the coast of Florida as we will.

....

Large multi-national firms like Exxon-Mobil are not US property. They sell to the world and their allegiance is to corporate profits. So, when they drill, they drill for the whole world, not just us. Some might find that heart-warming, but it certainly has nothing to do with the US having more oil or lower prices.

----------------
Now playing: Leonard Cohen - Dance Me To The End Of Love (Live)
via FoxyTunes