EXACT words... PRESIDENT OBAMA: Here's what happened. You had a whole bunch of oil companies who had leases on public lands that they weren't using. So what we said was, you can't just sit on this for 10, 20, 30 years, decide when you want to drill, when you want to produce, when it's most profitable for you. These are public lands. So if you want to drill on public lands, you use it or you lose it." Transcript And Audio: Obama-Romney 2nd Presidential Debate : NPR First of all... why is OBAMA ALWAYS ready to TEAR businesses a new one??? Does he understand you get a lot more with honey then vinegar... but of course it doesn't make a difference when people perceive you as a Messiah... people, oil companies MUST OBEY! But more important this Obama attitude shows absolutely totally NAIVE knowledge of OIL exploration, production! When Obama BLAMES Oil companies have already leased 38 million acres in the U.S. and they are not drilling on them. There is absolutely no way that this is the whole story. Does anyone actually believe that any smart business would go around buying these leases, for a minimum of $26,700 for 670 acres (which is the minimum size), and then never using them? The AP put this out to support this retarded argument. Try clicking on a state to see how much land the oil companies are not using. Let's think about the entire Oil process. Oil companies must do a whole lot of research. They have geologists telling them the likelihood that oil will be found in a certain area. These geologists are very good at what they do. They can tell a lot from satellite, then they can tell more from seismic tests, even more from core samples. These tests go in order. But they can only do the seismic tests after the lease has been secured. Tell me first why would you lease land just for the fun of it? Do really think that the oil companies are going to lease land that they don't think will ever produce, just because the BLM said they are willing to lease it out. Why Do Oil Companies Refuse To Drill On 38,317,322 Acres Already Leased?