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  #1 (permalink)  
Old 06-19-2008
jviehe's Avatar
jviehe jviehe is offline
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Who owns the Oil?

Maybe someone can enlighten me, but who own the oil that may be under the Gulf of Mexico for example. Is it the federal govt? The states? The people?

Is there something that would stop my State of Florida, from recovering the oil, refining it and selling it to Floridians?
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Old 06-19-2008
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Kash Kash is offline
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Re: Who owns the Oil?

How does the saying go again? Oh right, finders keepers
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Old 06-19-2008
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Speedyer Speedyer is offline
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Re: Who owns the Oil?

Quote:
Originally Posted by jviehe View Post
Maybe someone can enlighten me, but who own the oil that may be under the Gulf of Mexico for example. Is it the federal govt? The states? The people?

Is there something that would stop my State of Florida, from recovering the oil, refining it and selling it to Floridians?
So does that mean your okay with Alaska keeping its oil for it self?
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Last edited by Speedyer; 06-19-2008 at 10:13 AM.
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Old 06-19-2008
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Kash Kash is offline
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Re: Who owns the Oil?

The problem with those arguments is that eventually Florida, and Alaska more so, will have more oil than its citizens can consume, and will then sell off to other states. That's where the Commerce clause of the Constitution kicks in, and why the fed would claim control of all oil resources in the country.
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Old 06-19-2008
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Mrs. M Mrs. M is offline
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Re: Who owns the Oil?

From 2006:

Quote:
HR 4761, introduced by Jindal in February, would bring Louisiana up to 75 percent of energy royalties produced 3 to 12 miles offshore, which could mean more than $10 billion for the state in just the first 10 years of the program. Phased in over the next 15 years, the state would receive 50 percent of royalties from 12 miles out to 125 miles. The end result would provide Louisiana $2.6 billion in annual royalties when fully implemented.

Louisiana and other energy-producing states have tried for more than 50 years to get an equitable share of revenues produced from oil and gas production in the Gulf of Mexico. Even though the Gulf of Mexico produces 30 percent of U.S. domestic oil generating up to $7 billion in oil and gas revenues every year, the state received less than 1 percent of that money, or about $32 million in 2005.
Louisiana oil royalty relief gains House nod | New Orleans CityBusiness | Find Articles at BNET

Unfortunately, this bill passed the House but was never voted on by the Senate.
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Old 06-19-2008
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Re: Who owns the Oil?

Quote:
Originally Posted by jviehe View Post
Maybe someone can enlighten me, but who own the oil that may be under the Gulf of Mexico for example. Is it the federal govt? The states? The people?

Is there something that would stop my State of Florida, from recovering the oil, refining it and selling it to Floridians?
I'm gonna' guess here, but "territorial waters" are with respect to federal, not state, boundries. As such, I think the Fed would control it...
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Old 06-19-2008
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Re: Who owns the Oil?

Quote:
Originally Posted by Speedyer View Post
So does that mean your okay with Alaska keeping its oil for it self?
Looks like he was just trying to find out who would control it. I saw nothing that suggested that he thought it was okay if the State did...
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Old 06-19-2008
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Speedyer Speedyer is offline
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Re: Who owns the Oil?

Quote:
Originally Posted by Steve View Post
Looks like he was just trying to find out who would control it. I saw nothing that suggested that he thought it was okay if the State did...
Fair enough.
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Old 06-19-2008
Americano Americano is offline
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Re: Who owns the Oil?

Quote:
Originally Posted by Mrs. M View Post
From 2006:


Louisiana oil royalty relief gains House nod | New Orleans CityBusiness | Find Articles at BNET

Unfortunately, this bill passed the House but was never voted on by the Senate.
How much is the state budget? Is that enough to make any significant contribution, or is it under 5%?
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Old 06-19-2008
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jviehe jviehe is offline
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Re: Who owns the Oil?

Quote:
Originally Posted by Speedyer View Post
So does that mean your okay with Alaska keeping its oil for it self?
Im for accepting that the states control their land and the resources found on them, including out into terratorial waters. I dont beleive the federal govt should own any land outside of DC and possible military bases. As such, if Alaska decided to keep its oil for itself, have at it. As it is, they already take royalties from oil sales and subsidize their own citizens oil pruchases.
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Old 06-19-2008
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jviehe jviehe is offline
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Re: Who owns the Oil?

Quote:
Originally Posted by Kash View Post
The problem with those arguments is that eventually Florida, and Alaska more so, will have more oil than its citizens can consume, and will then sell off to other states. That's where the Commerce clause of the Constitution kicks in, and why the fed would claim control of all oil resources in the country.
I dont agree. The commerce clause only states that they can regulate commerce, not own everything traded.
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Old 06-19-2008
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jviehe jviehe is offline
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Re: Who owns the Oil?

Quote:
Originally Posted by Steve View Post
I'm gonna' guess here, but "territorial waters" are with respect to federal, not state, boundries. As such, I think the Fed would control it...
Well, thats what I want to know. Since when does the US govt have the right to lease oil exploration to anyone. That should be a state right.
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Old 06-19-2008
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Re: Who owns the Oil?

Quote:
Originally Posted by jviehe View Post
Well, thats what I want to know. Since when does the US govt have the right to lease oil exploration to anyone. That should be a state right.
An individual state doesn't determine territorial waters, the federal government does. You might not agree with that (I happen to), but that doesn't mean it's invalid...
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  #14 (permalink)  
Old 06-19-2008
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Re: Who owns the Oil?

Quote:
Originally Posted by jviehe View Post
Im for accepting that the states control their land and the resources found on them, including out into terratorial waters.
As I mentioned, the federal government is the body responsible for determining territorial waters, not the states...

Quote:
I dont beleive the federal govt should own any land outside of DC and possible military bases. As such, if Alaska decided to keep its oil for itself, have at it. As it is, they already take royalties from oil sales and subsidize their own citizens oil pruchases.
Would you be equally accepting of the federal government then spending your tax dollars only within the limits of Washington DC and on military bases? After all, if they're not going to have any say as to how things are developed within a particular state, why should they bother giving them any money?
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  #15 (permalink)  
Old 06-19-2008
daddio daddio is offline
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United_States     Virginia

Re: Who owns the Oil?

Quote:
Originally Posted by jviehe View Post
Maybe someone can enlighten me, but who own the oil that may be under the Gulf of Mexico for example. Is it the federal govt? The states? The people?

Is there something that would stop my State of Florida, from recovering the oil, refining it and selling it to Floridians?



GoM ? USA

FLA, in its costal waters ? nothing other than $$$$ to do it. that why they sell the mineral rights. they get the cash without the bother.

Alaska was on national (right next door to ANWR) but even with that, the state gets loads of money, some of which is paid out to the residents !
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