News and notes from Missouri and Arkansas politics
Barry-O needs to get his facts straight about drilling in the U.S.If we strarted drilling today, it would not be 10-20 years like he stated, 2-3 years would be a more realistic time frame. Plus, if congress OK'ed it, oil prices would drop quickly because the speculators would know the U.S supply would be greatly increased. Barry-O, YES WE CAN INCREASE THE SIZE OF GOVERNMENT, YEAS WE CAN KEEP THE POOR VOTING DEMOCRATIC BY MORE GOVERNMENT GIVE AWAYS, YES WE CAN TURN AMERICA INTO A SOCIALIST STATE.
The oil companies already own drilling rights to over 28 million acres that are sitting unused. We could maybe drill and get 3% of our needs- but we use 25% of the world's oil. Even if they drill, they could sell the oil to India or China. Oil companies are making record profits now, I wouldn't speculate that they will pass any savings on to the consumers- I feel they may just be in a position to grab more land right now when they have us "over a barrel" so to speak. Let's get more creative with our solutions- we put a man on the moon- we can solve this, and create jobs. Government can work if we want it to.
Hey rex, just because oil companies can drill on those lands doesnt mean a thing of there isnt any oil on them. In fact thats kinda the problem at the moment.Speculators and those pushing peak oil theory are betting that the United States Congress will continue to refuse access to off shore drilling and other natural resources. The result - a tight market in which a fly sneazing in Iran causes a four dollar a barrel hike, regardless of what the fundamentals are.Bill is on the spot with size of government and taxes.Funny thing is I have yet to see much in the way of details on what many Democrat sponsored bills are proposing for the past two years.In fact, this blog failed to report that Democrats, lead by Nancy Pelosi, voted to leave Washington yesterday without a vote on drilling.Did I mention that this blog, and other Springfield media failed to report Obama's recent negative campaign line while here in Springfield while it is becoming a national headline and major mistake?Nope, instead we got a puff piece with a pro-Obama opening on the news package.
Yes Rex, oil companies do have leases on millions of acres. I was a consulting geologist for 7 years in the oil business. Oil companies spend many millions of dollars on leases each year without much knowledge of what is below the surface. After the leases are obtained only then can geophysicists can start testing the below ground rock strata to find any structures that might contain oil (very expensive) Then if some structure is found they make a determination to drill an exporatory well to prove their theory.(very, very expensive) What I am getting to is oil companies lease all this land, run their test and if they don't look like a new field would be found, they won't go to the expense of drilling a well, so oil companies sit on millions of acres of leased land without drilling. This has been happening for decades. These leases are usually for 5 years, and then they are auctioned off again.Bill
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