Did you know this about oil?

Yep, I did. (It's actually more than that if you factor in the local taxes.) And interestingly, neither the media or the government seems eager to mention this fact. But then, can you blame them? What kid hasn't, at some time, pointed at his little sister and said "She did it!"

Yes. The democrats want to prevent drilling by blaming the high prices on the oil companies.

You would sure think that they would like to increase domestic production to the Max.

Edit: Here are some more numbers for you: note Oil Exports!

Electricity - production: 4.062 trillion kWh (2005)

Electricity - production by source: fossil fuel: 71.4%

hydro: 5.6%

nuclear: 20.7%

other: 2.3% (2001)

Electricity - consumption: 3.816 trillion kWh (2005)

Electricity - exports: 19.8 billion kWh (2005)

Electricity - imports: 44.53 billion kWh (2005)

Oil - production: 8.322 million bbl/day (2005 est.)

Oil - consumption: 20.8 million bbl/day (2005 est.)

Oil - exports: 1.048 million bbl/day (2004)

Oil - imports: 13.15 million bbl/day (2004)

Oil - proved reserves: 21.76 billion bbl (1 January 2006 est.)

Natural gas - production: 490.8 billion cu m (2005 est.)

Natural gas - consumption: 604 billion cu m (2005 est.)

Natural gas - exports: 19.8 billion cu m (2005 est.)

Natural gas - imports: 117.9 billion cu m (2005)

Natural gas - proved reserves: 5.551 trillion cu m (1 January 2006 est.)

Now the Economics question: If we stopped exporting right now, would that cause the price of oil to go up or down? Think hard on this one!

Proud Vet

Yes...thanks for posting this question.....it is after all, not just those "evil oil companies"!

Sounds like we shouldn't have to pay all kinds of taxes too

Could explain why it is so cheap in the us,stop whining!

Simplified economics do not explain anything or excuse anything.