posted on Jul, 12 2010 @ 11:36 AM
Wasn't sure which forum to put this in.
The US has several large oil fields, of which the one off of Louisiana is one. But, as I understand it, (please correct me if I'm wrong) we sell (or
give) leases to outside sources, they get the oil and sell it back to us?
Is that the way it works? So if we have the oil, why are we BUYING it back from folks who have gotten a lease to drill? Recently I heard that the
lease that BP has is MINIMAL in cost related to the value of the oil they obtain and then sell back?
And if we have known oil reserves as massive as the ones in Alaska and in the gulf of Mexico, why are we paying other countries for it?