Now here, does drilling lower gas prices? Okay. So the red here are drilling permits that have been issued from 1994. The blue are the wells that have been drilled. So you see that the permits have increased, especially in the last few years. The red are the permits. The blue are the wells that have been drilled and the wells that have not been drilled as to the permitting. So with all of this going on, the price of gas has skyrocketed, commodities issues and a lot of other things going on here. But what we are saying is, you have all of these permits to drill where the executive branch, President Bush's executive branch, is telling us that this is where the oil is, and the oil companies have found the oil there and got the permits and did the studies as you have pointed out earlier. And they have all this room here to dig, to drill, to pull the rigs up and to do everything that they have to do. And this is where you could pull out where these leases are, 4.8 million barrels of oil a day. In ANWR, it is how many barrels of oil a day?
Tim Ryan: “Now here, does drilling lower gas prices? Okay. So the red here are drilling permits that have been issued from 1994.…”
On the recordJune 18, 2008
Source
govinfo.govEditor's note · Context
Discussing the impact of drilling permits on gas prices during a floor speech.
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