The White House has repeatedly suggested the private sector can boost oil supply amid surging gas prices, but industry groups have countered that the administration has placed hurdles for new drilling.
“Not every lease contains oil and natural gas, nor does every non-producing lease represent untapped resource potential,” American Petroleum Institute Senior Vice President of Policy, Economics and Regulatory Affairs Frank Macchiarola said during a media call Thursday. “Companies are in the business of finding and producing oil and gas and developing those leases.”
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