Simple answer, no.Originally Posted by Tgo01
Tens of thousands of active federal leases in the United States, a significant number of which (thousands) were purchased without any exploration having been begun in /years/. So much for the argument of the federal government preventing exploration.
Over 9,000 fully drilling permits have been granted that are idle, the oil companies are simply not making use of them. There goes the argument of regulation preventing drilling from occurring.
You seem to think that these oil companies, who are making billions each month are somehow crippled for cash to fund capital expenditures and are reliant on investors for funding. Just how do you wrap your brain around the argument that with more money hitting the petroleum industry than in many decades, that they're desperate for investors to 'keep pumping money into the money pit?'. Corporate leadership decides how much money will be put into drilling operations, how much into infrastructure development, in-house drilling and completions teams, and how much of their net revenue has been going into dividends (a solid fraction) and stock buybacks (the overwhelming majority). If a stockholder decides they don't like the direction expenditures are going, they're free to file a lawsuit or seek to replace board members who then can replace executives making decisions. But, since the tear stained dollars of desperate Americans are being shoveled at them by the truckload, stockholders are through the moon.
Try and educate yourself on a topic before re-posting your Conservative taskmaster's opinions.
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