How the GOP (Gas & Oil Party) is misleading us

Isn't 68 million acres enough?

'Big Oil Stockpiles Supplies And Pockets Profits'

The vast majority of the oil and natural gas believed to be on the Outer Continental Shelf is already available for exploitation. In fact, 82 percent of natural gas and 79 percent of oil believed to exist on the Outer Continental Shelf is available for drilling throughout existing leases – right now.

Oil and gas companies are failing to exploit the existing drilling permits they have been issued. In fact, there are 10,000 additional permits for 68 million acres of federal lands and waters where drilling leases have been issued, but are not being used to increase production. And about 35.5 million acres of those existing, non-producing leases are located in federal waters.

The 68 million acres of leased federal land that oil companies are sitting on could produce up to 4.8 million barrels of oil a day. That is twice as much as we now produce domestically and six times the amount of oil that the Department of Energy estimates is at ANWR.

Why do oil companies want us to open up more land to lease when they refuse to explore the land they already have leases for? That's simple, they want to set aside as much as they can and still be able to manipulate the price of oil.

Do you want the truth ladies and gentlemen about who is sandbagging on oil drilling and ripping you off? If you do, if you want to read the facts from men of integrity instead the pathetic hyperbole of a drug-addicted liar, read Thom Hartmann's brilliant interview from today with Congressman Peter DeFazio.

As Hartmann points out, the real reason gas prices have gone through the roof is because of George Bush's failed economic policies that have driven our dollar into the ground and taken us to the largest debtor nation in the history of the world. Bush has so damaged the value of our dollar that if we were paying for our gasoline here in the U.S. with Euros, we'd be paying $2.25 a gallon now.

Listen to Thom Hartmann, daily from 12 - 3 PM, and you will learn something every single day!

(h/t - All American Patriots)