Why would the oil companies want to spend money drilling in America?

Do you really think they want the price of oil to go down?Why would the oil companies want to spend money drilling in America?
You're 100% correct. Many people may blame Democrats for not opening up ANWR, but I'm sure that the oil companies are just as hesitant.





They wouldn't want to open more drilling operations because it is very expensive (even for a oil company) and because it would lower the price of gas. Both of those factors make drilling in ANWR a bad choice.Why would the oil companies want to spend money drilling in America?
For a bigger piece of the pie. There would be drilling by some one attempting to take advantage of the current price of oil and trying to increase their share of the market. If prices fell some it would be made up by sheer volume..





The exploration has been done. We know where the oil is and that there are massive quantities available that rival those in Saudi Arabia. Recovery of that oil would not be an onerous expense when compared to the potential profits..
I'm not sure. I have heard that there is oil reserves un tapped in the US that have been left in case of a situation like this. i have also heard a plausible theory about the entire price rise problem being deliberate, apparently some experts say that there is double again of the oil we have found. Unfortunatly it is hard to tell as the facts remain hidden within the Oil companies.
we are drilling in america...as fast as we can.





it is almost impossible to find a rig much less finding pipe...steel pipe is almost nonexistant right now.





We do track rigs drilling in the US over time...and right now in the US we are at an all time high.








http://www.rigdata.com/c-7-rig-count-sta鈥?/a>
They do it every day in Los Angeles.





The oil is there the refinery is there and they have millions of cars on the road all in LA County.





I find the RedsStaters consistent cry of, ';liberals won't let me drill'; laughable. Los Angeles has more liberals then any other location on Earth. It also has an abundance of Oil and plenty of Oil wells.





In LA most of the Oil Dericks look like giant parking garages; but this one is a bit of the old with a bit of the new





http://www.laspe.org/URBANOILFIELDSTOUR_鈥?/a>
1) They don't. There isn't enough oil reserves (in a single field) in the US to make it worth their while. The massive onshore reserves in Texas and California are pretty well tapped out.





2) You are correct. A glut of oil on the market will cause the price to drop. A price drop = less profits.
it is not the price going down.....but to sell more oil kid!





and they Do want it because then they can grow bigger here!





right now the money mostly goes to the OPEC cartel, and not much to the oil companies here!








OPEC is the problem!


simple!
If they don't then the economy is eventually going to collapse and we'll go into a recession. Which is bad, bad, bad news for everyone.
Oh hell no. However, cut backs are already in place from normal people and industry (i.e., Airlines). If people are not buying as much of their product, price goes down, i.e., supply and demand.
Further, any reserves we have are far too small to justify the costs of exploration and recovery.





An average deep-water platform costs at least $100 million, often much more...
Because Alaska has more oil than Saudi Arabia. It's better to be self reliant.
No, they don't. That's why they aren't drilling where they are allowed to.
I think you're onto something.