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News Link • Energy

Two-thirds of oil and gas leases in Gulf inactive

• news.yahoo.com

WASHINGTON – An Interior Department report to be released Tuesday says more than two-thirds of offshore oil and gas leases in the Gulf of Mexico are sitting idle.

According to the report, obtained by The Associated Press, those inactive swaths of the Gulf could potentially hold more than 11 billion barrels of oil and 50 trillion cubic feet of natural gas. The report also shows that 45 percent of all onshore oil and gas leases are inactive.

President Barack Obama ordered the Interior Department review earlier this month amid pressure to curb rising gas prices. The White House says Obama will address his plans for the country's energy security during a speech in Washington Wednesday.

 

1 Comments in Response to

Comment by Anonymous
Entered on:

Inexhaustible, limitless supply of energy -- unbelievable, but to panic freaks enjoying their ride of scaring people, it hurts badly because it is true. The truth stops them from continuously writing down their frightening shrieking orgy.

"The White House says Obama will address his plans for the country's energy security during a speech in Washington Wednesday."

Telling us that he is short of energy, please reserve the front seat to frozen Frosty W. to keep him warm and his mind alive from being dead wrong!!


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