Any co. that has had leases that sold them to someone else would not be elidgble to bid if those lands/wells are not producing oil now.
The above are important since the oil companies own millions of acres of land that they are not trying to produce oil from them. They are simply banked assets to keep on their books.
Next: All oil produced must be sold to U.S. Consumers. The shipping, refining and sellers to retail users would be by other, independant shippers, refiners and stations.
The selling price of the oil from the well to the consumers would be based on a cost of producing, shipping ,refining and retailing and only a reasonable mark up would be allowed. Say 5% to 8%. World prices would not be taken into account.
Failing to produce oil in a timely manner, a few years, would cancel the lease.
No selling of leases would be allowed. No banking of leases or oil would be allowed.
No manipulation of this process would be allowed. Ownerships, management of each process, step must be independant of the other.
These are just some of my "Off-The-Cuff" ideas. I would hope that Obama would pick them up.
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