Are They Drilling Enough For Oil Now?

Here's a link to an article about charges traded back and forth between President Bush and Congress, more specifically Democrats in Congress, about drilling for more oil. I can't say that I know enough about the specifics to offer an informed opinion. I do know there have been "charges" (not saying whether they are true or false, or mixed) leveled by some that the oil companies have not been wearing themselves out trying to find oil in American territory, but rather that they have taken large sums of their huge profits and paid them out to investors, many of these investors being some of the richest people on Mother Earth. In an attempt to be fair here, some of the folks questioning the policies of the oil companies are not exactly left wing fanatics, but are some of the folks I've seen on CNBC, a cable business channel. When oil prices were like $75 or $80 a barrel, what now seems like bargain prices, some of the CNBC folks were asking like, "Where are all the oil rigs. The oil execs said that a lot of oil wasn't worth trying to get, because prices were too low (obviously in past years). They can't say that now."

I do like the idea proposed by Democrats (according to this article) about passing legislation requiring the oil companies to drill for oil on lands to which they already have lease agreements. Big oil needs to put up or shut up. Americans are not unreasonable, in my opinion. If we see the need to extend leases to new areas, we'll do it, I'm sure, especially if we have the proper information about the process and any environmental dangers to the areas involved.

ttp://www.msnbc.msn.com/id/25653628/