Drill Here. Drill Now. Pay Less.

[nevermind65]

Without going into a lot of detail, you may want to take a look at the 2005 Energy bill that was passed. Take a look at how your tax dollars are being given to big oil companies for exploration and drilling purposes. Don't forget all the other tax incentives they were also given. The number commonly thrown around is $14 billion in taxpayer subsidies, although with all the other tax loopholes, it could be a lot more (or less).

Just an FYI...Exxon's exploration has decreased dramatically over the last few years even though the subsidies were given to increase exploration.

There are only a few answers to our oil problems, and thinking that drilling for more oil in the U.S. is going to cure them are wrong. Drill all you want. All the known reserves in the U.S. wouldn't supply us for 6 months at our current usage. We need new sources...REAL ethanol manufacturing, oil shale, natural gas, hydrogen, etc.

As for a post above about all the environmental wackos stopping a refinery, most of the time, although they speak the loudest, the real cause of not building new refineries is the NIMBY crowd, or the oil companies themselves. Most refineries are running at capacity now, which is what they want. Why build more when you can create a bottleneck and increase prices/profits?

Originally Posted by wtm442

Sorry, but NO taxpayer money is ever used to drill oil wells.

Drilling for oil is "one" of the ways to help us to become energy independent. But no "one" source of energy will turn it around. It will have to be a collection of sources. We also need to pursue solar power, wind turbines, tidal power, nuclear power plants, thermal energy, etc, along with energy conservation.

The Congress for the last 30 years has put the clamps on most of our energy production/exploration with all of the jumping thru hoops that the EPA and other federal regulations require to use any of the energy sources above.

So what do the big energy companies do ... they go where they are welcomed with open arms ... the Middle East, Venezuela and other countries. It is just not profitable for the big energy companies to "invest" in energy production in the USA.

When (and if) this country puts together an energy policy that makes sense and allows a company to make a profit, then and only then, will you see the percentage of imported oil go down.

Did someone mention windfall profit tax? Brilliant idea if you want the price of gas to jump another dollar or two the day that bill passes Congress.