Posted on 06/18/2008 1:15:42 PM PDT by bugseye
Democrat claims that leases are “sitting idle” are FALSE and MISLEADING.Here are the facts:
FACT: Once a lease is secured, a long, comprehensive exploration process begins that“can require years of mapping, testing, drilling and construction” and can cost “millions or even billions of dollars.” Bidding on, paying for and securing a lease is not a license to drill, nor can production occur immediately. Even after “time delays” associated with initial leasing and drilling of exploratory wells, it has taken nearly a decade to produce energy on leases in the past. Democrats mislead when they say a classification of “not in production” is the same as “sitting idle.”
Wall Street Journal: “Companies don’t know how much oil is under the lands they lease, so they buy up large swaths in hope that a fraction will work out. Much of the area that isn’t producing, they say, doesn’t have oil or gas in commercially viable quantities. Moreover, bringing a new field into production can require years of mapping, testing, drilling and construction – during which time the land would show up in statistics as being ‘not in production,’ even as companies spend millions or even billions of dollars to bring it on line.”
(Excerpt) Read more at gop.gov ...
Good post, Thanks!
The dems pulled another one out of their bag of lies.
Nothing new... but definitely newsworthy. ;-)
Just saw Neil Cavuto tear into one B**ch Congress woman from FL, Shulz.
Democrats are so rude and so in denial.
Rush and Sean already have.
GO for the THROAT on the Democrats on this drilling issue. They are so far out mainstream America and have been for 20 years.
How in the heck are our kids suppose to raise families, buy homes, & survive at gas at $4.50/gallon and food costs up 25% largely because of the ethanol fiasco!
The Dem talking points are:
1. You can’t drill your way out of this crises
2. If you drill now, we still won’t have production for ten years
3. The oil companies have millions of acres of leases that they’re not using now.
“68 million acres and a mule”?
Should have been MUCH more forceful. Misleading? No. They’re FILTHY F#$KING LIARS.
The cat is out of the bag. The fleecing of consumers finally went too far and now the country is seeing what the demorats are all about-—contolling their “subjectsl.”
The Democrat Poltical Machine is lying ?
Who could have seen that coming...................
Love the liberal logic of that one. It's like saying you can't eat your way out of starvation.
Some leases turn out to be worthless after seismic surveys are completed. The leases still exist until they expire. Other leases are marginal but may be drilled someday if other units can be added to make the project viable. Those leases are extended in hopes of picking up other contiguous units.
Chief Oil has some of my rights leased now. They allowed drill permits for 3 wells due expire to a fault that runs through the formation (Barnett Shale). The lease is still in force. We are working on leasing land nearby that will allow horizontal drilling parallel to the fault line. If we can bring in the other land, our lease becomes viable. If not, it’s a dead duck.
This argument by the Democrats is a red herring.
Correction to post above:
“They allowed drill permits for 3 wells due expire to a fault that runs through the formation...”
Should read: “They allowed drill permits for 3 wells to expire due to a fault...”
my idiotic congressman (Tim “lyin” Ryan)was on H&C week spouting this nonsense-I wish Hannity was smart enough\fast enough to ask ol’ Timbo “How much oil is in the ground on those 68 milliom acres congressman?”-because that is the ONE question no one is asking about the infamous “68 million acres”.
Thanks for the link. When I first heard that talking point, it shocked me. It implied that with oil at $135/barrel, the oil companies cannot generate a profit by drilling. If I have an asset that generates a high return on investment, why wouldn’t I exploit it (especially if I am a greedy oil company).
If the President and R’s in the House and Senate have any gonads, they will hammer this subject into the ground, giving the D’s all the more rope to hang themselves with.
Even the Sheeple will start to pick up on what is going on if it keeps getting put out front. The MSM can only ignore so much of it and as the rumble from the hinterlands starts and the sale of pitchforks rises, MAYBE JUST MAYBE these pols will get off their collective A$$E$ and do something to ease this oil situation.....
Actually this brings up a good question. IS there an upswing in new drilling? Seems that there should be. Maybe ANWR and offshore sites will yield bigger results, but there have to be places that are now attractive at current prices. I think the big energy companies are holding out, either because they know OPEC can crater the market if they choose, or perhaps they are waiting for a sweeter offer from Washington.
Hey, you also have to love the logic of “it won’t be online for 10 years”.
First of all, then, you should have started drilling 10 years ago,
Second, your alternative, “alternative energy”, will be “online” in HOW MANY YEARS?
If it is going to take 10 years, shouldn't we get started? Drill here, drill now, pay less |
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