oil drilling

So, the lickspittle little johnny, he of the rictus grin, and the ass-kisser charlie, he who wants to be the number two, have decreed that they want more areas opened up for drilling. They were joined in this by the enlightened one, our own king little georgie. This will cause the magical drop in gas prices. They promise. They really mean it this time.

Of course, what they won’t tell you is this:
Rahall to Big Oil: Use It or Lose It
June 12, 2008
CONTACT: Allyson Groff or Blake Androff, 202-226-9019
http://resourcescommittee.house.gov/index.php?option=com_content&task=view&id=389&Itemid=1

Washington, D.C. - In an effort to compel oil and gas companies to produce on the 68 million acres of federal lands, both onshore and offshore, that are leased but sitting idle, House Natural Resources Committee Chairman Nick J. Rahall (D-WV) today introduced legislation that gives Big Oil one option - either "use it or lose it."

"Big Oil, as many Americans already suspect, are perfectly fine with high gasoline prices at the pump while they hold back domestic production on federal leases and enjoy world record profits. I am calling them on the carpet. I am calling their bluff. We are not going to continue to allow them to speculate and profiteer with public resources to the detriment of the American people," Rahall said.

The Responsible Federal Oil and Gas Lease Act of 2008 (H.R. 6251) is a direct response to the facts outlined in the recent House Natural Resources Committee Majority Staff report, "The Truth About America's Energy: Big Oil Stockpiles Supplies and Pockets Profits", (PDF) that illustrate how energy companies are not using the federal lands and waters that are already open to drilling. The legislation is co-sponsored by Reps. Rahm Emanuel (D-IL), Maurice Hinchey (D-NY), Ed Markey (D-MA), and John Yarmuth (D-KY).

The 68 million acres of leased but inactive federal land have the potential to produce an additional 4.8 million barrels of oil and 44.7 billion cubic feet of natural gas each day. This would nearly double total U.S. oil production, and increase natural gas production by 75 percent. It would also cut U.S. oil imports by more than one-third, reducing America's dependency on foreign oil.

more at the link