America's untapped oil »
Posted By Xaos 3 months, 2 weeks ago in Business & FinanceLawmakers lay into big oil for leaving million of acres untouched while at the same time asking to drill in Alaska and off the coasts.
Read Full Story at money.cnn.com »
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Xaos
Guess by now a few people are wondering who the heck I am. Lets see, raised in the country, a Christian, and an engineer and ...
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Aidenag3 months, 2 weeks ago
yeah its insane how little big oil actually cares about production. They got over 68 million acres of federal land leased that they are just sitting on. land that smaller corps could be utilizing and helping add to our energy independence, but instead Big Oil sits on it so they can raise prices and keep their record profits coming in.
Just with the land already leased, if it was used, would double US oil production, and add 75% to natural gas...
But none of this seems to matter to the McLame fanboys who think opening up the last 20% of energy rich land for development will somehow make a difference. When in fact, all it will do is mean more land that Big Oil will sit on and not use... It's like they have no idea that there is already enough leased offshore drilling land to create dozens of more platforms...
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mmrhe3 months, 2 weeks ago
Basically, they want the easy money. It's interesting the story notes that the industry is worried prices will go down so they are leary of sinking too much into more wells.
Isn't this the essence of our problem?
Corporations Only Care About The Bottom Line!
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Fedquip3 months, 2 weeks ago
fta: Of the 90 million offshore acres the industry has leases to, mostly in the Gulf of Mexico, it is estimated that upwards of 70 million are not producing oil, according to both Democrats and oil-industry sources.
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