The windfall taxes are mere threats during a campaign season. Exxon also has the Exxon Valdez case hanging fire, a few more $ billion, that is reality. It is not easy or cheap to ramp up production anymore unless they find another elephant such as East Texas or Prudhoe. Even Saudi can’t increase production by much. This is peak oil. Maybe they will find some more elephants, but it has been quite a while.
We have elephants waiting to be exploited in ANWR, North Dakota, and ridiculous oil off our coasts.
For some ridiculous reason, we are allowing the liberals to control the debate.
Oh, and more production really doesn't help much without more refineries...
You’re making me tear up. I guess those record profits must be a real burden on the company.
Horse manure. Drill off the coasts of Florida and California. There's lots of oil there. Most of the oil that washes up on California beaches is from underwater seeps--not ship spills. Drilling wells in those formations will relieve the pressure and stop that source of pollution (natural though it is).
Elephants?
Brazil
Bakken
Falklands
Equatorial Guinea
etc, etc.