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Oil Companies Reducing Exploration

Floor Speech

Date: Jan. 9, 2009
Location: Washington, DC
Issues: Oil and Gas


OIL COMPANIES REDUCING EXPLORATION -- (House of Representatives - January 09, 2009)

Mr. ALTMIRE. Madam Speaker, remember the ``Drill here, Drill Now'' rallying cry we heard nonstop on this floor? Even when the lights were off and Congress was in recess, the other side stood here in the dark, with their charts and graphs, blaming Democrats for high gas prices.

If only we would allow drilling in the Outer Continental Shelf, they said, the oil companies would expand exploration and produce oil in record amounts. Well, we opened up the OCS for the first time in 20 years, and now the oil companies are free to explore and drill without restriction.

But the oil companies are reducing exploration. That's right. We opened up the OCS to the oil companies and they responded by cutting back on exploration.

Where is the outrage from my colleagues on the other side?

Congress did its part. So when gas prices inevitably go back up, I hope they will focus their "Drill Baby Drill'' chants directly on the oil companies.

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