Yes I get your point, however the vast majority of that land has no known oil reserves. And yes, it's been seismically studied.False- Oil companies have plenty of land they haven't tapped yet without lifting any federal land drilling bans.
The do need land with oil.Never believe the nonsense that they need more federal land to drill
Not correct. Oil is purchased on futures. Had the pipeline continued, we'd be about a year from completion. That factors strongly into futures pricing. The bottom line is that any significant oil industry investment has a tendency to stabilize the market.even if the Keystone XL had gone forward it wouldn't be able to help with the current price situation at all.
Conversely, the act of actively and permanently capping unused oil wells along with strong discouragement of oil exploration and production drives oil futures prices to the moon.