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You are here: Home / News / Use it, or lose it

Use it, or lose it

July 17, 2008 By WRN Contributor

One of Wisconsin's U.S. Senators is advancing an effort to make sure oil companies focus on where they can already drill.

Oil companies have been pushing for the U.S. to let them drill off-shore for new reserves, but Senator Russ Feingold (D-WI) says they're not using much of the nearly 66-million-acres of land they can drill on now. He says they shouldn't be asking for more leases, when they can't provide a good reason for why the current ones are barely being used.

Feingold is co-sponsoring a bill that requires oil companies to begin developing their current leases, or else they'll lose them. The measure in the Senate would also deny them access to new leases if current ones aren't being developed. Feingold says other companies should have a chance to develop the resources on those federal lands.

The Wisconsin Democrat says oil companies have been very defensive when confronted about drilling on the leased property. He says the bill is one way to get answers.

AUDIO: Andrew Beckett reports (MP3 :55)

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