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Old 06-19-2008
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Re: Who owns the Oil?

Quote:
Originally Posted by jviehe View Post
WHich is why the federal govt decides the borders, and then the states decide what to do within those borders. If a resource lies outside of that border then we can decide how to divy it up. Thats whats Im asking here. Who owns it?
The federal government.

An individual state's borders extend only three miles out, if I recall correctly. I don't think anyone's looking to drill within three miles of the shoreline. Beyond that, the state has no authority to dictate what happens...
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