Why does Barack Obama opposes offshore drilling and gas tax to be paid by oil companies?
Why a “Drill Here, Drill Now” Approach Will Help America Pay Less at the Pump Is more drilling for American oil an essential part of lowering energy costs and freeing us from dependence on foreign sources of energy? The typical response of critics is a resounding “NO!” and includes several common arguments, which are not supported by the facts. MYTH: Oil companies currently have 68 million acres of leased public lands that contain large amounts of economically recoverable oil available. Drilling in these areas could generate 4.8 million barrels a day so opening up more land is not necessary. FACT: The estimates on the amount of oil available in those 68 million acres have been derived by assuming that the unused acres can produce the same amount as those acres being used. However, much of the land leased to oil companies has already been explored and determined not to carry enough recoverable oil to justify drilling. This is in stark contrast to the other 97% of currently banned offsho
