It wasn’t long ago that the dirty energy industry and their friends in Congress and the media were screaming that we needed to open up every corner of America to oil and gas drilling in order to lower energy costs and help protect our country from oil-rich countries who don’t like the United States.
We were promised that increased domestic production would lower our fuel costs, strengthen our national security, and help ensure our economic prosperity. And even after the Obama Administration agreed to open up even more federal lands to drilling, the American public has yet to see any of these benefits materialize.
But the oil industry isn’t complaining. They’ve been given everything that they asked for over the last few years, and while we’re still paying, on average, $3.22 a gallon at the pump, the industry is pulling in profits of $375 million a day between the top 5 companies.
You would think that Big Oil would have little to complain about at this point, but you’d be wrong. Apparently, they feel like their record profits should be even higher, so they’ve now decided that it's time to ease restrictions on oil exports so they can go take advantage of more lucrative overseas markets. Here at home, however, expect your pain at the pump to continue. You're not their priority, despite the fancy advertising.
ExxonMobil, the most profitable oil company in America, has called on the federal government to ease the rules regarding how much domestically-produced oil can be shipped out of the United States. They are backed in this call by their friends in the conservative media, including the Wall Street Journal.
To reiterate, they want to take the oil that we finally agreed to let them “drill, baby drill” out of our national parks and public lands – the oil that was supposed to lower our prices to take the burden off of U.S. families, but never did – and ship it to markets that are paying more for oil. Why? So they can make profits that make $375 million per day look like minimum wage by comparison.