Crude oil resources. Who own them?

@faisai (1138)
Hong Kong
June 16, 2009 9:51am CST
Crude oil are available in most of the world but we all know where to look for if we want to dig into the ground: the Arabic countries. They have so much oil resources that just by selling oil can lead to very good life of people there and not to mention the rapid development of their cities. So, they are digging up the oil deep under their countries and sell to the world.... They are digging up something from the Earth and sell to the world? I mean who decide that they own the crude oil so that they can sell to the world? These resources are not created by these countries. They belong to everyone in the world so I really wonder how come they are asking us for money for things that we also have a share?
1 person likes this
5 responses
@dianmelydia (2271)
• Indonesia
18 Jun 09
Every countries and every lands have their own specialty. The God is fair. Arabic countries are on a big desert. They can't do many things like what you can do on a fertile land. Why don't you asking for Arabic Melon? We know that it's impossible to plant Melon there. This is business. The money and commodities exchange between countries make our world live. With all of the surplus and needs, a country will doing international trading. Have a nice day and happy mylotting.
@betsyhu (207)
• China
17 Jun 09
It's simple to ask this question, because, it's their land . Who possess the resource, who can sell it as same as your private property only possessed by yourself. Will you share your private property with others ? predicatively ask: No.
@rsa101 (30615)
• Philippines
17 Jun 09
Territorial boundaries dictate who owns it. As far as I know every country has its boundaries and everything that that boundary is defined is owned by that country. Meaning starting from the air above down to ground below they own that one.
@ra1787 (501)
• Italy
16 Jun 09
Mineral resources have also been considered property of the state that owns the site. Unfortunately oil reserves are not evenly distributed on the earth but most of them is in a few regions. By the way there are a lot of legitimate doubts on many opec's members declared oil resources because given the quota system of opec countries are ecouraged to overstate their resources so they can sell more oil and make more money. Anyway i don't think that this situation will ever change, resources are owned by the nation where they are.
• United States
16 Jun 09
They own it with the rule of "Finders keepers losers weepers" It's on their land and they found it so they own it. Weird concept though.