Why is drilling for oil and gas at a low right now? Has been for years.?

I remember the last time oil moved, they were drilling all over the place. I know where tons of gas and oil is. A friend is stting on one of the biggest here and 20 years ago they could not get the oil as it was a tight formation. now with directional drilling and all the other stuff you would thing they would go and get these resources

It does not make sense, before they would drill wildcats that hit like one in 18, now very few. Does not make sense with the price of oil. I figure something to do with politics.

i know that years ago they drilled and then it went down and the majors took over tons of the smaller ones, only a few made it. It’s strange with all these areas with all the seismic and info and locations. the friends deal has 5 lines of recorded info and on emore to go with a major oil company. Why would they not jump on this?
Rarely do you get a whole set of best answers, but here are people who know and believe with conviction. May have to send this one to the comunity, but will noitfy you if you have e-mail so you can vote.

8 Responses to “Why is drilling for oil and gas at a low right now? Has been for years.?”

  1. bilez1 Says:

    profit to be sustained for as long as possible. oil fields in the U.S. are a sure thing to be had at anytime. like money in the bank. foreign oil is profitable and uses up someone else’s "money in the bank". what’s more, drilling activity is at a frenzied pace. one particular "project", deep water, gulf of Mexico is expected to be a bonanza…only problem…all available deep water platforms are already "busy" elsewhere.

    as for price…at least 30% of the current per barrel price is speculator caused and has nothing to do with supply and demand. the real crimp on available fuel is a shortage of refining capacity. the causes of which are both environmental restrictions and oil company hesitation to disrupt their control on price.

  2. Spock (rhp) Says:

    Congress does not want any drilling in America.

    You ask ’em why — i’ve given up on them being sane.

  3. Yo it's Me Says:

    It’s very difficult to get past the environmental regulations. The funny thing is our laws don’t allow us to drill in the Gulf of Mexico, but foreign countries are actively doing it and will be selling it to us in a few years.

  4. fasteddie79103 Says:

    its because of these ecological groups and thier lobbyists have convinved the libs and dems that it will destroy the enviroment, besides how else could they jack the price of fuel through the roof? low supply=higher prices and then you legislate the crap out of regulations so that no one can obtain the permits to do so. It all equals control of the product and profits.

  5. Mary Jo W Says:

    liberal are afraid an owl or toad will be endangered

  6. poopsie Says:

    you can thank slick willy for that one his foreign policy, nafta etc.etc. and then of course they let the tree huggers dictate what we can and cannot do in our own country, oop’s its not our country anymore, it belongs to the whole dam world

  7. bee bee Says:

    Maybe they drilling these holes, not looking for oil, but some where to plant the illegals that’s taking their job and driving drunk
    and killing their kids,and littering their land and aren’t we wonderful keeping them up. to do these things. while our great voted in politicians does nothing about it. .So they
    are digging these hole to plant them so next year we have a few thousand more, Don’t they tell us to bloom where we are
    Planted, why not give them good rich oil land for a starter,
    Don’t you just wish they would get home sick, and Just
    go home. But here I go day dreaming again. I don’t hate them , I just think they need to go screw their own government,
    The one,s here legal are fine, they are like you and me American Citizens. I just have a problems with free loaders. of ALL
    RACES. If you are old, sick ,or a child. then you need our help, other than that. find a Job. Boy aren’t I grouchy tonight?
    Thanks R.J for letting me unload on your question. I owe you one. you. unload on my next guestion.

  8. amnesty sucks Says:

    The "tree huggers" keep things from happening.