Why isn't it profitable to drill for oil in Texas? Seems like with oil around $60 a barrel and dependence on .

the mid-east opec that they'd be sinking bits all over the USA. And why don't we just be more friendly to Mexico in exchange for cheap oil?Why isn't it profitable to drill for oil in Texas? Seems like with oil around $60 a barrel and dependence on .
First, Mexican government owns the oil company Pemex, and the Mexican Constitution prohibits foreign investment in oil. Second, with Texas need to get a permit first off to explore offshore for oil. Find oil then you gotta resubmit a permit and documentation that there is oil, and gotta go thru environmental assessment at the local, state, federal level to be able to drill for oil. Finally, it costs lots of money to build the Equipment to extract the oil, and the oil company found a oil reserve would have to spend a while to make sure its worth the investment for offshore oil drilling before they put the equipment to extract it out there. Finally. drilling for oil in Texas would be profitable if there wasn't environmental, and local red-tape. Dint worry Shell is learning the fine art of making oil out of tar sands in Montana to Alberta those deposits if extracted efficiently will provide oil for a long time. The other sources to make fuel like Straw grass would be a good idea because straw grass is the only source of ethanol that is actually a energy gainer. Corn based ethanol is a energy drainer because the time it tales to grow the crops., the fertilizers to protect and grow the corn, and the having to use heavy machinery to grab and extract the ethanol cello use from the corn. Personally not worried about oil much because other sources of extraction of oil will replace overtime oil from unfriendly suppliers.