Should US oil cpompanies who sell their oil outside of the US lose their subsidies?

[Harpy Eagle]

We always hear from the right that US oil can lower gas prices, but the truth is that the vast majority of US oil is sold to other countries, because the oil companies can make more money exporting it than selling it domestically.

I think we should stop subsidizing any oil company that does not sell at least 51% of the oil they drill in the US. The American taxpayers shouldn't be forced to subsidize companies that only care about profit and don't care about helping their country.

while some is sold outside the US, not the vast majority, not even half

 

[Admiral Rockwell Tory]

Hmm ok how about we stop givingthem subsidies and bailing them out whenever they fuck their own companies up. That is free market capitalism. If they can't compete on their own, let them die.

Why are you posting false info?

You should be providing links to these ridiculous claims! Wait! I am sorry! You cannot link to your imagination!

 

[bripat9643]

We always hear from the right that US oil can lower gas prices, but the truth is that the vast majority of US oil is sold to other countries, because the oil companies can make more money exporting it than selling it domestically.

I think we should stop subsidizing any oil company that does not sell at least 51% of the oil they drill in the US. The American taxpayers shouldn't be forced to subsidize companies that only care about profit and don't care about helping their country.

What subsidies?

 

[bripat9643]

Why are you posting false info?

Because he's a prog. That's what they do.

 

[bripat9643]

Who said anything about them sourcing it from oversees. I am talking about oil drilled in the US. Almost all of it is exported. If more of it was sold in the US, it could help lower gas prices. But the companies choose to export because they can make more money selling it oversees than domestically. And if they make that choice, they shouldn't receive tax subsidies.

You don't know what the fuck you're talking about.

 

[Bootney Lee Farnsworth]

What subsidies?

There are some minor subsidies which are bullshit and should go away, but otherwise US oil is self-sustained.

 

[JWBooth]

Kill all subsidies.

 

[there4eyeM]

Oil company profits have been almost 7% for decades. And, the price of gasoline hasn't kept up with housing, healthcare, automobiles, education, groceries or anything else. Oil is a bargain.

It is not the percentage that is important, it is the quantity. Net profits in the range of $1000 per second are just too much.

 

[Admiral Rockwell Tory]

It is not the percentage that is important, it is the quantity. Net profits in the range of $1000 per second are just too much.

Why don't you morons cite a link to your stupidity?

Where does that figure come from?

 

[there4eyeM]

Why don't you morons cite a link to your stupidity?

Where does that figure come from?

Look at the yearly net profits and divide by the number of seconds before referring to a singular in the plural.

 

[Admiral Rockwell Tory]

Look at the yearly net profits and divide by the number of seconds before referring to a singular in the plural.

My God! How does a person with a subzero IQ even function in this world?

What yearly net profits? How many oil companies are you included? Are you including oil companies that have their headquarters and operations outside the US?

You made the claim. Let's see if your tiny little brain can back it up!

 

[BlindBoo]

Who said anything about them sourcing it from oversees. I am talking about oil drilled in the US. Almost all of it is exported. If more of it was sold in the US, it could help lower gas prices. But the companies choose to export because they can make more money selling it oversees than domestically. And if they make that choice, they shouldn't receive tax subsidies.

In 2021, the United States exported about 8.63 million b/d of petroleum to 176 countries and 4 U.S. territories. Crude oil exports of about 2.98 million b/d accounted for 35% of total U.S. gross petroleum exports in 2021.

Frequently Asked Questions (FAQs) - U.S. Energy Information Administration (EIA)

www.eia.gov

We currently produce 11.9 Mbd, and have kept the legendary energy independence status (which pretty much still means nothing......) during Joe Bidens first year in office.

Weekly U.S. Field Production of Crude Oil (Thousand Barrels per Day)

So no. If we don't want them exporting our oil, pass a law, again.

 

[Ordinary Guy]

Oil company profits are chump change. $1,700 BILLION the amount Dems have vampire sucked from students trying to get a college degree.

students that borrow huge amounts to go to school deserve what they get, we should not be bailing them out for poor choices

 

[BlindBoo]

The BEST thing to do wit oil and gas companies is to let them do their thing, drill and produce,

US oil producers reduced production due to lack of demand, not the re-instituting Obama era levels of regulations nearly a year after the reductions. It's no secret that production steadily increased from 2010 to 2020 regardless of federal regulations or lack thereof. It is steadily increasing now.

 

[Mr Natural]

By all means let’s fuck with an industry that produces a product that we virtually cannot live without.

 

[surada]

Where do these guys get the idea the petroleum industry is nationalized?

I have no idea, but they do think the oil belongs to them. It's idiotic. Like they forgot this is not a communist country. And, they never stop yapping about Marxism.

 

[Moonglow]

US oil producers reduced production due to lack of demand, not the re-instituting Obama era levels of regulations nearly a year after the reductions. It's no secret that production steadily increased from 2010 to 2020 regardless of federal regulations or lack thereof. It is steadily increasing now.

One thing the Repubs do not want to talk about is the historic cut in oil production in Saudi Arabia and Russia due to Trump negotiating a deal with them in 2020.

 

[there4eyeM]

My God! How does a person with a subzero IQ even function in this world?

What yearly net profits? How many oil companies are you included? Are you including oil companies that have their headquarters and operations outside the US?

You made the claim. Let's see if your tiny little brain can back it up!

It is factual math, not a claim.

 

[Aldo Raine]

We always hear from the right that US oil can lower gas prices, but the truth is that the vast majority of US oil is sold to other countries, because the oil companies can make more money exporting it than selling it domestically.

I think we should stop subsidizing any oil company that does not sell at least 51% of the oil they drill in the US. The American taxpayers shouldn't be forced to subsidize companies that only care about profit and don't care about helping their country.

Absolutely, the hell with Capitalism and free enterprise. Actually government should NOT subsidize any companies.
MAGA

 

[surada]

It is not the percentage that is important, it is the quantity. Net profits in the range of $1000 per second are just too much.

So it's the Quantity you're upset about. Perhaps you'd like them to pump LESS oil?