All Posts Tagged With: "Coors"

Debunking the too-long and greedy oil ranters.

Arguments against contributing to energy independence by producing more domestic oil is that it will take at least 10, maybe 30 years before we see a drop of oil, and that greedy oil companies already have 86 million acres of leases provided by the federal government.

Research and analysis by Paul M. Weyrich and with Joseph Coors support founded the Heritage Foundation and then formed the Free Congress Foundation which, unlike Heritage, could act as a political action committee finds the following:

Larry Kudlow recently featured on his television show James T. Hackett, president and CEO of Anadarko Petroleum Company, and he says it would take two or three years, depending upon where the oil was drilled. Indeed, said another expert if the right equipment were available it would take only one year to get the first oil since the oil companies know exactly where the oil is located in the outer continental shelf.

An oil shale expert estimates that the first 800 million barrels of oil from shale could be available in two or three years. The remaining estimated 2 trillion barrels of oil from shale would take longer to have ready because they would be more difficult to extricate so the sooner you begin the faster it arrives on market.

Sen. Jim Inhofe, R-Okla., who used to be in the oil business, said the reason oil companies are not drilling on the 86 million acres is that there is no substantial oil available on those lands to make drilling economically viable. Oil companies have explored those areas and found that they would produce little. So, to accuse oil companies of greed is an unfounded assertion.

Weyrich says pro-energy independence forces have done a terrible job of education allowing touchy feely and harebrained ideas to be pushed that proponents admit are far, far in the future. Meanwhile consumers chaff and suffer from $5 a gallon fuel prices.

Speaker of the House Nancy Pelosi, D-Calif., has pulled measures lifting the ban on drilling from the House calendar. Weyrich says that the Democratic majority whip’s count demonstrated that the pro-drilling forces had enough votes to lift the ban.

So, Weyrich says representatives and senators should initiate discharge petitions. Maybe, just maybe, a majority of legislators would be willing to ignore the majority leadership. At minimum it would bring things to a head and the majority of voters who want more domestic oil produced could see for themselves who are the obstructionists.