Gas and Oil Companies Fail to Prepare for Next Energy Crisis

Everyone who can remember the panic last summer when oil and gasoline prices went through the roof may be comforted by the thought that the oil and gas companies are frantically drilling in the search for and development of new supplies, especially after getting all those new leases and other breaks from the Bush Administration.

“Drill baby drill,” was the mantra of the Republican and conservative groups as encouraged by big oil.

But what has actually happened?

Oil and natural gas drilling has slowed almost to a complete stop.
Newsblaze