The government should lower the amount of revenue that it has in the oil industry to benefit Americans. Lowering their share of revenue in the oil industry will drive up competition, which will lower prices. A larger government market share does provide a bit more stability in the market, but at the cost of fewer people being able to afford oil products.
The amount of revenue the US government receives from the oil and natural gas industry is staggering: recent numbers put the amount of rents, royalties, and bonus fees the government collects at $86 million a day. To say that this is placing a burden on the industry is putting it mildly. Surely if the government collected less money in this industry, it could be more profitable and pass that savings on to the American people.
Yes, I believe that the government should decrease their share of revenue in the oil industry to benefit Americans as well as oil companies because it is not fair that we buy this product to get absolutely nothing back and to become even more in debt. the world should share more then everyone would be equal.
Gas at the pumps are at an all time low and oil prices have dropped too. This decrease has been a delightful change of pace for consumers and the last thing anyone should be considering is tinkering with the current formula. The government is considering decreasing their share of revenue in the oil industry, but it seems like the current system is working so it is foolish to change it.