Many oil, gas leases in Gulf are inac...

Many oil, gas leases in Gulf are inactive

There are 11 comments on the DispatchPolitics story from Mar 30, 2011, titled Many oil, gas leases in Gulf are inactive. In it, DispatchPolitics reports that:

More than two-thirds of offshore leases in the Gulf of Mexico are idle, neither producing oil and gas nor being actively explored by the companies that hold the leases, according to an Interior Department report released yesterday.

Join the discussion below, or Read more at DispatchPolitics.

HowRad

Amelia, OH

#1 Mar 30, 2011
GOP leaders also hit hard on Obama's comment last week in Brazil that the U.S. wants to be a "major customer" for the huge oil reserves that Brazil recently discovered off its coast.

Apparently it must be time to redistribute some of the wealth to Brazil

Since: Feb 07

Location hidden

#2 Mar 30, 2011
Cripple the United States economy, it is clear to me. The U.S. had nothing to do with British colonialism in Kenya. The head guy needs therapy.
Tea Party Tim

Blacklick, OH

#3 Mar 30, 2011
Seems that the knuckle-draggers are already missing the point of this article: The oil companies have plenty of opportunities for offshore drilling, but are just sitting on the leases.

Where are the right-wing protesters demanding that the oil companies drill more?
American Joe

Dublin, OH

#4 Mar 30, 2011
These people make me sick to my stomach! How many agncies over see oil drilling, Dept Interior, EPA, Dept of Energy, etc. ENOUGH! even with all these they can't get anything done.

Abolish all but one! The Law of Deminishing Returns? Has any of the elite over educated DC drones heard of that one?
American Joe

Dublin, OH

#5 Mar 30, 2011
Tea Party Tim wrote:
Seems that the knuckle-draggers are already missing the point of this article: The oil companies have plenty of opportunities for offshore drilling, but are just sitting on the leases.
Where are the right-wing protesters demanding that the oil companies drill more?
Really how much oil or natural gas are at these sites? There is cause and effect here buddy.
Lfod

Defiance, OH

#6 Mar 30, 2011
More hope and change from bozo!
Telmark

United States

#8 Mar 30, 2011
Just because the energy companies have a "lease" doesn't mean that they have the proper permits to extract the energy from the leased land.

You must first obtain a lease and then you must obtain a permit to drill. Part of the problem is the length of time it takes to get a drilling permit in the United States (the permit process can take as many as 10 years or more to complete). Another factor is that the permit process can be halted at any time due to various reasons (environmentalist lawsuits, etc).

The current U.S. drilling permit process only serves to keep Americans dependent on over-priced and increasingly unreliable foreign oil sources. This, of course, gives our leaders an excuse for our over-priced and over-taxed oil supply.

BTW, Obama just promised to help Brazil expand their off-shore drilling industry while he and his family were on their South American vacation trip.
The Fourth Estate

Jacksonville, FL

#9 Mar 30, 2011
Telmark wrote:
Just because the energy companies have a "lease" doesn't mean that they have the proper permits to extract the energy from the leased land.
You must first obtain a lease and then you must obtain a permit to drill. Part of the problem is the length of time it takes to get a drilling permit in the United States (the permit process can take as many as 10 years or more to complete). Another factor is that the permit process can be halted at any time due to various reasons (environmentalist lawsuits, etc).
The current U.S. drilling permit process only serves to keep Americans dependent on over-priced and increasingly unreliable foreign oil sources. This, of course, gives our leaders an excuse for our over-priced and over-taxed oil supply.
BTW, Obama just promised to help Brazil expand their off-shore drilling industry while he and his family were on their South American vacation trip.
The article said nothing about the companies’ inability to get permits to drill. In fact, it’s implied that they have all the necessary clearances to drill, but the companies “can't find resource in commercial quantities” to make the drilling worthwhile (read: profitable.)
Meanwhile, they are waiting to get approval to drill more deep-water wells. But if the ‘drill, baby, drill’ crowd is to be considered credible in their argument about becoming less dependent on foreign oil, wouldn’t it be prudent of them to insist on developing all available resources, even at reduced profits for the oil corporations--who are raking in billions?

--Exxon Mobil made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings.
--Chevron received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009.
--Valero Energy, the 25th largest company in America with $68 billion in sales last year received a $157 million tax refund check from the IRS and, over the past three years, it received a $134 million tax break from the oil and gas manufacturing tax deduction.
--ConocoPhillips, the fifth largest oil company in the United States, made $16 billion in profits from 2007 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction.
http://blogs.suntimes.com/sweet/2011/03/ten_g...

If the already leased sites are not ‘worthwhile,’ why don’t they just give the leases back and let some other company have a shot at developing them? You don’t suppose it’s a tactic designed to prevent competition that would lower prices, do you?

Perish the thought....
Yeah

Mililani, HI

#10 Mar 30, 2011
The right yells "drill, baby, drill"....

Oil companies don't listen....

So the right gets mad at the president....

--------

The right doesn't like nationalism....

Gas prices go up....

So the right get mad at the president....

--------

What's wrong with this picture?

Since: Feb 07

Location hidden

#11 Mar 30, 2011
The right does not rule from the WH. He run for office with the promise to destroy the American economy, He did.
Let the Deeming begin for 2012.
Telmark

United States

#12 Mar 30, 2011
Again The Fourth Estate, energy companies must first obtain a lease before they can begin the often lengthy permit process. Again, the permit process can take years to complete.

Just because Julie Pace conveniently failed to mention the permit process in her article doesn't mean that it doesn't exist.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Doc Hastings Discussions

Title Updated Last By Comments
Drone Use OK'ed for Agricultural, Real Estate C... (Feb '15) Feb '15 Peter Simmons 2
News Sen. Pat Roberts grabs early lead in Kansas GOP... (Aug '14) Aug '14 Asian Guy 5
News Tea party still has election hopes as chances d... (Jul '14) Jul '14 woofpack 19
News In historic vote, House backs medical marijuana (May '14) Jun '14 Cordwainer Trout 6
News McCain: no global warming action until the left... (Mar '14) Mar '14 SpaceBlues 1
News Survey: Many Americans Don't Know What Fracking Is (May '13) Dec '13 d pantz 217
News House Republicans vote to deport DREAMers (Jun '13) Jun '13 See the Light 9