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Unregistered
Join Date: Aug 2000
Location: a wretched hive of scum and villainy
Posts: 55,652
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It does not matter where it goes. Even if it goes to china it displaces a purchase they otherwise would have made. It affects the available pool of oil and affects the price, no matter who buys it. Eco 101.
There's another factor: government revenue. Oil leases are expensive. Real expensive. The government gets that lease money.
They also get a tax on every barrel produced. Then they get to tax the crap out of the oil company when they sell it, provided they do it on US property.
Last edited by sammyg2; 08-04-2008 at 06:46 PM..
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