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Why don't oil companies drill in the areas for which they already have all the oil leases and govt permits?

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Why don't oil companies drill in the areas for which they already have all the oil leases and govt permits?

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  1. It takes a while to figure if there is oil on the lease and how much it will cost to get to it.  There are only so many rigs and people available.


  2. It has to do with supply and demand. The less oil they drill, the more oil is worth, on the other hand, they earn alot by selling it. Trust me, they know what they are doing.
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