Two-thirds of oil and gas leases in Gulf inactive, report says
More than two-thirds of offshore leases in the Gulf of Mexico are sitting idle, neither producing oil and gas, nor being actively explored by the companies who hold the leases, according to a Department of Interior report to be released Tuesday.
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#1 Mar 30, 2011
Republicans want to expand oil drilling in the U.S. yet the oil companies aren't utilizing the areas that they hold a lease on, which cost money. They aren't going to absorb the cost of a lease, that get's passed down to each gallon of fuel. "Drill baby Drill", yes on the area you already hold a lease on.
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