My Two Cents

On Nancy Pelousy's response
"Once again, the oilman in the White House is echoing the demands of Big Oil."

Also says "same companies that are sitting on nearly 68 million acres of public lands and coastal areas."

Promoting once again that Bush can't be trusted, big companies and capitalism can't be trusted and that greed needs to be legislated. But what Pelousy isn't yelling nearly as loud, this is leased land the oil companies are sitting on. Not only is it leased, but still foreign. In other words, the land was leased so that it could be explored.

Oil companies, like all companies, use profits to not only fill their "big fat pockets", (as the dems would want you to believe) but also for research and finding where to drill in order to make their pockets even fatter. That is the beauty of greed. (by the way, remember that oil companies get 4% in profit while the govt. gets 15%)

What is most important to remember is that though Oil companies lease the land, it doesn't mean the land will yield oil. Now or ever. The oil has to be found first and if it is found, the technology has to be made available to pull it out of the ground, thus making oil profits very important.

What Pelosi's statements are designed to do is to make us believe that oil companies are intentionally sitting on fruitful and oil rich land and are greedily holding onto it in order to keep the price of gas up to maintain record profits and are now after our pristine wildlife.
But I ask you this, if the oil companies are turning oil rich fields into idle land in order to keep prices up, then why were oil companies drilling more, refining more, researching more in the 1980's (before heavy govt. crackdown) when the price of gas was only $0.80 a gallon?