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  • Production: Obama Administration Praises Lackluster Oil and Gas Lease Sale

    Yesterday marked the first oil and gas lease sale of the Obama Administration’s five-year program for the Outer Continental Shelf.

    The federal government raked in $157.6 million from more than 20 million offshore acres up for lease in the western Gulf of Mexico.

    Secretary of the Interior Ken Salazar praised this routine lease sale as part of President Obama’s “comprehensive, all-of-the-above energy strategy, expanding domestic production, reducing our dependence on foreign oil, and supporting jobs.” But the sale’s low returns show that oil and gas companies aren’t necessarily buying it. For context, the last sale in this region for 21 million acres attracted more than $337 million.

    The fact remains that President Obama has not led with a strong hand to support growth of energy production on federal lands. Where he and his Administration have not actively blocked energy exploration and production, they have resorted to an environmentally directed “defeat-by-delay” strategy, racking up costs and uncertainty, which exacerbate the financial risks of oil and gas exploration.

    Meanwhile, state and private lands have attracted the business and profit of oil and gas companies, outpacing development on federal lands on and off shore.

    Along with allowing greater access (as he did in March 2010), President Obama should lead his Administration to create a dependable regulatory process that encourages domestic production. This would not only bring in more revenue for the federal government; it would also enable oil and gas companies—job creators—to invest in the economy, all without a federal dime being spent.

    Posted in Energy [slideshow_deploy]

    One Response to Production: Obama Administration Praises Lackluster Oil and Gas Lease Sale

    1. Bobbie says:

      He's got America cornered everywhere. If he can't punish her here, he'll punish her there. Thank goodness businesses are the wiser. ..It's hard to believe people would take honorable positions to do this to America(ns). Especially after taking advantage of her to get their positions they use to abuse by manipulation, resentment and hatred and corrupt all of her. How decent! That's the thanks America(ns) get behind their backs!! Influential people continue to misinterpret her nature with conflict to make her look bad to make them look victim instead of instilling encouragement of the strength in the freedom of her people.

      Nope. This isn't a strong nation of immigrants. The immigrants that made this country strong are no longer with us and there's not enough American born and immigrants today properly educated to understand America's freedom, liberties and justice (loyal to those in government control that give them treats without comprehending the treats are unconstitutional, unprincipled and stolen.)

      Those that lead this country since immigrants built America, have become lesser than America stands for and bring all they can to the lesser of them under government control.
      Mother always said "don't take candy from strangers." Who's more stranger(s) than government?

      We have to get the government out of the business of everything. He isn't a good investment that won't take no and simple reasons for an answer. He won't move on what is feasible and ready to commence. Government hindrance was never needed in America, before!

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