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More Drilling Questions than Answers

August 26, 2008

by baypointmike

Oil from a well in Texas (or California), refined in Texas (or California) and sold in Texas (or California) is sold at the price dictated by the OPEC Cartel.

Some oil-producing countries have the gimmick of selling their oil at the OPEC price but then return the money to themselves to reduce the oil price locally. Is that a subsidy, or a gimmick?

What if we drill for oil and the companies continue selling at the same high price?

What if OPEC reduces oil production the same amount we increase production?

Did we accomplish anything? Is this a worthless charade? Who is laughing?

Are they heroic, or something else, for being against offshore oil?

To the Republican Party and Sen. McCain “the solution” is to drill for oil but he says nothing as to who decides at what price will that oil be sold. Is this a “con” game?

Will voters fall for it? Watch the Election returns in November!

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