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Lack of New Drilling Blamed on Oil Companies

By Jeff Poor
Business & Media Institute
6/16/2008 12:54:52 PM

With gas prices topping $4 a gallon and the idea of tapping into oil under the Arctic National Wildlife Refuge or the Outer Continental Shelf becoming more popular, liberal members of Congress are changing the basis for their opposition to drilling.

Opposition to opening up new drilling has traditionally focused on environmental concerns, but the chairman of the Democratic Congressional Campaign Committee on June 15 accused oil companies of not using what they already have.

When CNN host Wolf Blitzer asked "why not start drilling" in more U.S. areas "that could dramatically increase supply and as a result reduce the price per barrel or the price at the pump?" Blitzer noted that House Speaker Nancy Pelosi (D-Calif.) "votes against every one of these drilling propositions."

“Well, we are drilling. And there is nothing wrong with drilling. We have lots of oil companies in the United States that are drilling,” Rep. Chris Van Hollen, D-Md., said on CNN’s “Late Edition with Wolf Blitzer. “[A]nd in fact there are 60 million acres of federal lands that are currently leased to the oil and gas companies that are sitting idle. They’re not drilling. They like the status quo. They like the way things are going.”
So the oil companies already have 60 million acres that they could drill for oil but aren't. Hmmmmm .... Something smells funny. Take back the leases and see how that works. If the oil industry try's to play hardball, then nationalize the oil refineries and see how they like that.

Sorry but when it costs $18.75 a barrel to pump oil out the ground in the US and $10 in Saudi Arabia and it's selling for $150 a barrel thats BS.
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