"The Obama administration will speed up the leasing process for the Alaska National Petroleum Reserve, give oil companies better financial incentives to use their leases and extend all drilling leases in the Gulf of Mexico so oil companies have more time to implement safety measures after the devastating BP oil spill.
He will also fast-forward the testing of areas off the east coast of the United States to see what oil resources are there and if it would be safe and commercially viable to drill."
A Big Whine From Big Oil
"Exxon's Rex Tillerson called the proposal "misinformed and discriminatory." ConocoPhillips's James Mulva, in a letter, called the idea "un-American" because it would supposedly cost American jobs, raise consumer prices and discourage investment — a position he reasserted during the hearings.
The other three companies at the witness table, BP America, Shell and Chevron, raised similar complaints. How absurd are their claims? Utterly absurd. "