Off Shore Drilling: has anyone bothered to ask.....

[liberalitch]

.....why the oil companies are not drilling on the 1000's of acres of off shore properties that have already been leased to them? Does anyone think that they are sitting on those leases and will sit on future leases in ORDER to drive up oil prices? Hmmm,....

[liberal N proud]

1. Obama has mentioned it several times

He says they need to use it or lose it in reference to all the leases the Oil Companies already have before acquiring new ones.

[Javaman]

2. It's called simple greed. nt

[Selatius]

3. They might be doing nothing in an attempt to drive up the price of oil by cutting back production.

Simply, they're throttling supply by gaining control over those leases and then just sitting on them.