Obama - "Drill on the mineral acres you already have"
President Bush announced he is lifting the executive branch's ban on drilling off the coasts of the US.
The ban imposed by the Congressional Branch is the only barrier to unlocking vast amount of American oil.
Yet, the Democrats won't lift the ban.
The Democrats are standing on shaky ground, as a large majority of American's want the ban lifted and drilling to begin.
In response to the pressure, the Democrats have developed one clear concise message that they hope will detract attention from their indefensible position. From the mouths of Obama, Pelosi and Reid have come the same words,
"Oil Companies have leased millions of mineral acres from the US Government- they should drill on those before they ask to lease offshore locations from the government."
A "Red Herring" is a term used to describe a statement that is made for the sole intent of misleading an audience. Obama's statement is a classic red herring.
Mineral acres are the resources that lie below the earths surface. In many parts of the country, people will own property, but the mineral rights to the property (those resources that lie beneath the soil - like coal, oil, gas, etc) can be owned by someone completely different.
For example, in Kansas, decades ago, farmers might sell the mineral rights to their land, as a way to make some money. Firms would buy these rights, in the hopes that someday oil or gas might be discovered. In 99% of the cases, there are no minerals to recover. Hence, the purchaser of mineral rights took a gamble and lost.
The same is true for US Government land and the mineral acres. The government leases out the mineral acres as a way to generate some revenue. The companies secure the leases and then explore whether there are minerals that can be economically recovered. On the rare occasion that oil can be identified, a well might be drilled. However, when there's no evidence of oil, it is idiocy to sink a well, simply because you hold a lease.
But that's the Democrats instruction - "Drill where you have leases". In other words, "Go drill where you know there is no oil." It's simply idiocy.
Frankly, the statement defines the speaker.
The ban imposed by the Congressional Branch is the only barrier to unlocking vast amount of American oil.
Yet, the Democrats won't lift the ban.
The Democrats are standing on shaky ground, as a large majority of American's want the ban lifted and drilling to begin.
In response to the pressure, the Democrats have developed one clear concise message that they hope will detract attention from their indefensible position. From the mouths of Obama, Pelosi and Reid have come the same words,
"Oil Companies have leased millions of mineral acres from the US Government- they should drill on those before they ask to lease offshore locations from the government."
A "Red Herring" is a term used to describe a statement that is made for the sole intent of misleading an audience. Obama's statement is a classic red herring.
Mineral acres are the resources that lie below the earths surface. In many parts of the country, people will own property, but the mineral rights to the property (those resources that lie beneath the soil - like coal, oil, gas, etc) can be owned by someone completely different.
For example, in Kansas, decades ago, farmers might sell the mineral rights to their land, as a way to make some money. Firms would buy these rights, in the hopes that someday oil or gas might be discovered. In 99% of the cases, there are no minerals to recover. Hence, the purchaser of mineral rights took a gamble and lost.
The same is true for US Government land and the mineral acres. The government leases out the mineral acres as a way to generate some revenue. The companies secure the leases and then explore whether there are minerals that can be economically recovered. On the rare occasion that oil can be identified, a well might be drilled. However, when there's no evidence of oil, it is idiocy to sink a well, simply because you hold a lease.
But that's the Democrats instruction - "Drill where you have leases". In other words, "Go drill where you know there is no oil." It's simply idiocy.
Frankly, the statement defines the speaker.
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