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From a subscriber
Interesting breakdown on the big bad American oil companies… ( ouch, somebody is pinching my wallet… I wonder who it could be! ;) I noted that Gov Ritter said last week that he was going to act to protect Coloradans by NOT allowing development of the massive shale oil reserves.
May 23, 2008
I hadn't realized, until the hearings on energy that were held this week in House and Senate committees, that the
This graph tells the story; you can barely see the American oil companies as minor players on the right side of the chart. The chart was presented to the House committee by Chevron; click to enlarge:
With 94% of the world's oil supply locked up by foreign governments, most of which are hostile to the
This is obviously a tough situation for the American consumer. The irony is that it doesn't have to be that way. The
So, why doesn't it happen? Because the Democratic Party--aided, sadly, by a handful of Republicans--deliberately keeps gas prices high and our domestic oil companies small by putting most of our reserves off limits to development.
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