Thursday, July 17, 2008

House RepubOILcans say no to lower oil prices

Today the House considered a measure HR6515 that would require the oil companies that currently hold leases to drill on federal lands to begin drilling or lose their leases. In addition it required the Buearu of Land Management to actively pursue new leases in the National Petroleum Reserve in Alaska. This bill also had provisions to assist in the production by adding pipelines. It also required that the oil that is produced in these lands be kept in the United States not sold overseas as is being done currently with Alaskan oil.

This was a real solution that would turn idle assets sitting on the Oil companies spreadsheets into oil producing assets. It would have kept domestic oil home, it would have had a positive impact on oil supplies in a relatively short time as the oil is already known to exist on these lands, leases exist and in some cases test wells have already been drilled.

This bill failed as the vast majority of RepubOILcans showed their true motives by voting against this bill. It is now clear their mantra of "drill drill drill" means, give more assets to the oil companies but not actually produce any oil.

68 million acres are available for drilling now and the oil companies are choosing not to drill. This bill would have had much faster results in forcing drilling where oil is already known to exist, rather then sepculating in unknown areas as the RepOILcans want.

Once again the Democrats in Congress offered real solutions that will effect all Americans, while the RepubOILcans want gimmicks that only seek to increase the wealth of the Oil men.

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Blogger admin said...

You are making one huge judgemental mistake in your conclusion about this bill.

I am not an oil company friend, but I do know that no matter how much oil or how many oil leases are in place for drilling, it is not necessarily the best option. The problem is larger than you make it appear.

The real problem is transporting the oil and gas from the locations. Evidently there is no infrastructure in place to transport the natural gas or oil from these sites. The costs and expenses to transport may outweigh the decision to drill on these leases.

Other than listening to useless chatter from the politicians, has anyone actually heard testimony from the actual lease holders regarding these areas? I would bet you may be surprised as to why they aren't drilling.

7:41 AM  

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