Can you explain how one of these statements by big oil isn't a lie?

Question

Big oil companies have said that we need to give them new drilling rights in the Arctic and offshore with the implication that this will lower prices (even though government studies say it would take decades for that oil to come online and would lower the prices very little).

When Democrats noticed that big oil isn't even using all the leases they have in the US, including offshore and in the Arctic, the oil companies whined that they didn't have enough equipment to drill those EXISTING leases.

So which is true?

Do they not have enough land to drill on or enough equipment to drill it?

Answer 1

Actually both are true.  They only drill where they are sure there is oil and it is easy to get to.  Just because they are allowed to drill somewhere doesn't mean that there is oil or that it is economically feasible to get to it.  There is a shortage of equipment for the oil industry, but they are making it as fast as possible.  

I audited a company that makes pumps that are used in that industry and they were taking orders that wouldn't be manufactured for 2 or 3 years.

Answer 2

We are just flat being lied too.  So if you choose to believe what's happening is happening.........good, not me. This is all a big political game. And a change of money and power...so stay alert.

Answer 3

both

Answer 4

Not all oil is created equal. The drilling rights they have is on land with small pockets of oil, or oil that is extremely hard to get to, wheras ANWAR and the Gulf have bountiful reserves of Saudi Arabian Lite-like quality oil. Trust me, if the companies got permission to drill there, they could raise the capital in 24 hrs.