So, why aren't the oil companies drilling on the land they already possess?

Word is the oil companies already have SEVERAL acres of land that have YET to be drilled upon.


Apparently this is the reluctance of giving them even more land to drill.





So, why aren't they using what they already have?





Thoughts?So, why aren't the oil companies drilling on the land they already possess?
Because they like to have the land sitting around as decoration.





Gav thats a huge lie and you know that. The oil companies have lot's of oil reserves available to drill, but why spoil the market when your already making record profits with high gas prices??So, why aren't the oil companies drilling on the land they already possess?
those on the left claim that the oil companies are doing this for no reason. but that argument fails because it defies logic, which the left always ignores in favor of gutt feelings and emotion.





obviously if that land which the oil companys already had access to would yeild oil in a cheaper way than the off-shore areas they desire access to, they would utilize it. if they drill in areas that are so costly, that will just raise the price of crude, and go in the wrong direction. logicial people understand that this makes no sense.





it is no different than someone saying.. ';why do you contrinue to want a walmart in your area when you already have lots of stores (high-end) in your town already? ';
In the Clinton era, Billy passed legislation limiting both oil production in the US and paying drillers to ';cap'; their small wells throughout the midwest and west in order to appease OPEC. Clinton established a ';base quota'; of oil that we would buy from OPEC and in exchange they would regulate the price.





My Grandparents live in a community with a lot of capped wells in the midwest, all we need is to have the Congress to lift the appeasement quotas and we can get back to pumping our own.





10 years to production? Naw try 6 weeks.
why does the US make them lease and pay those leases before they can make geological surveys?








Alienof... you have no clue about what you speak.. let me guess you think they are waiting for the price to peak, why would a company not drill when the price of the commodity is the highest ever.. useless it some democratic subsidized endeavor
Because they were leased land to explore. they did and found nothing. What would be the point of drilling where there is no oil?





Tell you what I got some land and you can come dig for gold and take all you find. I hope you have a lot of free time because there isn't any gold on my land.
That oil is really deep and hard to get at and the amount is extremely small compared to what is available off-shore.
Too easy. Then no one would have anything to complain about.
they are lazy