Truth About America's Energy: Big Oil Stockpiles Supplies and Pockets Profits   [open pdf - 129KB]

Alternate Title: Special Report by the Committee on Natural Resources Majority Staff

The House Committee on Natural Resources recently released this special report about the oil industry and gasoline prices. "While the oil industry and some Members of Congress argue that opening more federal lands and waters would lead to lower gasoline prices, the facts prove otherwise. The fact is that the Nation simply cannot drill its way to lower prices at the pump. Other options, from greater energy efficiencies to the development of alternative fuels, are essential to reducing dependency on petroleum fuels and lowering fuel costs. […] Even if increased domestic drilling activity could affect the price of gasoline, there is yet no justification to open additional federal lands because oil and gas companies have shown that they cannot keep pace with the rate of drilling permits that the federal government is handing out."

Public Domain
Retrieved From:
United States House Committee on Natural Resources: http://resourcescommittee.house.gov/
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