That is really what it is boiling down to. As oil prices continue to climb, everybody is looking at somebody else for a resolution or to put blame.

Many people in the government are looking at oil producers, while the oil producers are looking at government officials.

According to many officials, they are accusing producers of not fully tapping into the land and resources they have. Of the 90 million offshore acres the industry has lease to, it is estimated that somewhere around 70 million of those are not producing oil. If they were being used efficiently, million of more barrels could be produced a day, but why would companies sit on this unused expensive land?

On the other hand, the producers are looking to the government to open up restrictions near the coast; however, many feel oil companies are purposely not drilling on the land to lower supply and increase the price of oil. By allowing these producers to drill in the new areas of Florida, California, and Alaska, it will essentially lower the cost of production for these oil companies. A bail out not many want to grant.

With the rise in oil price also comes the rise in fear in the decline in price. Not many producers want to invest money into trying to pumping up more oil in those hard to reach places (such has the deep water) within the unused 70 million acres. By betting on the government to lift the restrictions on land closer to the coast, they presume supply would increase, production cost decrease, and overall price to decrease.

It is certainly a he said, she said debate. One side says its good, while the other says its bad. Presidential nominee John McCain has hinted at wanting to lift the restrictions. Perhaps hoping that it would ease the prices of oil or at least have constituents feel it will.

One thing is for sure, this oil crisis we are in won’t be leaving for some time now.

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