Oil theft a growing problem?

One U.S. oil exec has plead guilty to conspiracy in a deal of this ilk -- and the U.S. Homeland Security department will return $2.4 million to Mexico's tax administration.

This payment comes from the first money seized during the investigation into smuggled oil. This one indictment is the first of possibly many, which could include payments. A spokesman for the National Petrochemical & Refiners Association pointed out that one bad apple in the form of a small oil company shouldn't ruin the reputation of all the oil refineries. Although, one has to raise the question of how much smuggled oil has made its way into America and eventually into American gas tanks.

Face it, the oil companies don't care where the oil comes from; they just care that we are willing to pay for the oil and gas. As long as their pockets are being lined with cold, hard cash, the homeland of the oil will make no difference. Oil theft is a new world of crime, so dealing with the criminals and how to limit the crime is uncharted territory.

That said, is making the U.S. consumer pay for the Mexican government's problem the best move? Isn't it the Mexican government's job to make sure that these thefts don't occur, and then the oil doesn't make it across the border? Moreover, why do oil companies feel the need to buy this bootleg black gold? Oil supplies are plentiful, although the price of oil isn't adhering to the model of supply and demand. Should oil companies have to pay the piper for purchasing smuggled oil, because we all know that this cost will be passed along to the consumer.

How can the companies monitor this problem, especially since this is a new phenomenon? You know that the companies will not pay for people to monitor every mile of pipeline -- and if they do, watch for gas prices to rocket higher. If U.S. refineries can pay pennies on the dollar for this oil, watch for this problem to continue and grow.