Midtowner, 8/10/2008 - 7:53pm ""Raping for profit" is a rather hyperbolic term - kind of exposes the poster's mind set. The public would, in fact, be the biggest beneficiary of exploring these lands owned by the public.
Inactive leases are generally inactive because they are not profitable, and in fact in almost all cases are lost if they become inactive. Certainly any company that has a lease that will produce a significant amount of oil is producing it now. Drive around the state a bit and see for yourself how few pumpjacks are still. Unfortunately, while potentially profitable on a well by well basis, the total incremental production from most of the private land drilling in the US is insignificant in terms of national needs.
In fact, OPEC has in the past been able to control oil prices and has used that power to wreck the American oil industry. The game has been to allow private companies to invest huge amounts of capital in new production only to be bankrupted by a turn of the valve in Saudi Arabia. Just look at how few major oil companies exist in the US today. This strategy is what has led to our current dependence on imported oil. Believe me, if the US oil industry could control prices as the poster suggests, we would still have a number of major oil companies in Tulsa. Sadly, that is not so."
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