Why the oil lobby support the offshore drilling? Who is going to pay the cost?

Well, here is economics 101. First you get or make a product using company funds, then you sell the product to make a profit. Get it?Why the oil lobby support the offshore drilling? Who is going to pay the cost?
The oil companies will pay the cost. As long as the price of oil exceeds the cost of providing it by a margin sufficient to provide them with a profit (which they need to exist), they will drill and provide more oil.





The oil companies wanted to do more drilling years ago when the price of oil was less than half of what it is now. If the anti-drillers had not blocked drilling back then, maybe the price of oil would not be as high as it is now.





EDIT: By ';ARMCO'; I think you mean ';ARAMCO,'; which was started by several oil companies and the government of Saudi Arabia. The Saudi government ';bought'; out its partners many years ago and now it is the sole owner of ARAMCO. So, if you think ARAMCO is the bad guy in the oil picture, call the Saudi King and tell him what you think.Why the oil lobby support the offshore drilling? Who is going to pay the cost?
Most likely the Saudis. They wont be able to charge us as much for oil, if we are more proactive about obtaining it from our own country. Just the threat of us drilling more has oil prices dropping. Granted a lot of that also has to do with decreased Chinese demand since their government lifted subsidies.





Wonder why that information is so hard to find... CNN never says a word about China when it comes to oil prices. Nor do they ever seem to acknowledge that 70% of Americans are in favor of lifting the offshore drilling ban. I guess there is hope, if at least 70% understand supply and demand.
Do you think that it COST over $100 a barrel to produce the oil we are buying from the Middle East? Do you think the cost of pumping that oil fluctuates that much? It might take some time to go into full production of the oil we know we have underground, but that oil is estimated to be a 150 year supply at current usage. We are now pumping domestic oil at about the same rate we did in 1940. Does this make ANY sense to you? We should PUMP OUR OIL, regulate the price of it so that the oil companies do make a profit and we have cheap oil, and then say F*** You to the Middle East. During the next 50 to 100 years our technology will probably improve tenfold over what it is now, and we can have a CHEAP or free, reliable source of energy, but apparently we are NOT able to do that now. The closest thing we have is atomic, and the left-wing crazies go nuts over even considering that source of power.





President Bush brought an immediate reaction from the Middle East by removing the Presidential order. Doesn't that tell you something about the Middle East, and how fragile their economies are, and how dependent on their major buyers of oil??





Forget the stance of your partisan party. Think like an American. Think in the way that made us great, and powerful, not like a bunch of sniveling traitors.
Oil companies would pay the cost for drilling and the extraction. The rights might not cost them much. The cost of any clean up might fall to tax payers, but the oil companies normally pay for it. The tax payers will only foot the bill for any unknown health costs.
The oil company better.
...who do you think?