Governments of 18 of the top 20 oil producing nations control the distribution of oil from their territories. Only two, the United States and Canada, allow oil companies to distribute oil according to market dynamics. While it may be correct to talk of “Saudi Arabian Oil” there is no such equivalent entity as “American Oil.” … More Gasoline prices, politics and the reality of petroleum distribution.
While there may be emotional appeal to chants of “Drill baby Drill” and “American oil for Americans” the reality is that oil taken from beneath American soil simply does not belong to America. It belongs to the oil companies that drilled it and not to Americans. It’s not that way in most of the world … More Is it time to consider nationalizing the US oil industry?