America's Oil Problem Solved

[I AM NOT THAT GUY 5,715]

House passes offshore drilling bill

House Republicans passed legislation Thursday that would require the U.S. government to offer up offshore areas for oil and gas leasing, part of a wide-ranging GOP effort to expand domestic energy production amid $4 per gallon gas.

The bill is the first in a three-part legislative push by House Republicans on drilling. Two related drilling bills are expected to come up for a vote on the House floor next week.

The legislation, authored by House Natural Resources Committee Chairman Doc Hastings (R-Wash.), would set a deadline for holding delayed Gulf of Mexico oil and gas lease sales. It would also mandate the sale of leases off the Virginia coast, a plan the administration nixed after last year’s Gulf oil spill.

The bill passed in a 266-149 vote. Two Republicans voted against the bill and 33 Democrats voted for it.

On the House floor Thursday, Republicans blasted the Obama administration’s energy policies, arguing that the Interior Department is not moving quickly enough to encourage offshore drilling and issue key permits.

“We’re in this situation because of this administration’s policies that have shut off energy supply,” Rep. Steve Scalise (R-La.) said on the floor.

“We’ve got to reverse this radical approach,” he said.

Republicans also argued that the legislation would help to lower gas prices.

The White House blasted the bill Thursday morning, but did not issue a veto threat.

Democrats introduced an alternative energy bill Thursday that would slash oil tax breaks for the five major oil companies and release oil from the Strategic Petroleum Reserve, among other things.

http://thehill.com/blogs/e2-wire/677-e2-wire/159487-house-approves-offshore-drilling-bill

[Vi-Jay 218]

[Obama 2012 1,714]

The legislation is useless unless it eradicates the power of the EPA.

The EPA is the single most destructive entity our government has. Without power limitations put in place on it, anything congress says/does is irrelevant.

[Mr. Big Dog 10,747]

House passes offshore drilling bill

House Republicans passed legislation Thursday that would require the U.S. government to offer up offshore areas for oil and gas leasing, part of a wide-ranging GOP effort to expand domestic energy production amid $4 per gallon gas.

Interesting. Especially if you consider that of the roughly 53 million acres offered for lease in 2009 and of the 37 million acres offered for lease in 2010, only 2.7 and 2.4 million acres were actually leased. The government has been offering up the leases but there ain't no takers. That might be because the oil producers are already sitting on huge leased acreage that they're neither exploring nor developing. Of the 38 million offshore acres currently under lease, only 10 million acres have exploration or development plans. In order to speed up production, the DOI has actually changed the lease terms introducing escalating rentals as an incentive for early exploration.

[^_^ 5,021]

Interesting. Especially if you consider that of the roughly 53 million acres offered for lease in 2009 and of the 37 million acres offered for lease in 2010, only 2.7 and 2.4 million acres were actually leased. The government has been offering up the leases but there ain't no takers. That might be because the oil producers are already sitting on huge leased acreage that they're neither exploring nor developing. Of the 38 million offshore acres currently under lease, only 10 million acres have exploration or development plans. In order to speed up production, the DOI has actually changed the lease terms introducing escalating rentals as an incentive for early exploration.

Your facts are not welcome here!

[I AM NOT THAT GUY 5,715]

Your facts talking-points are not welcome here!

That canard has been debunked over and over.

[Mr. Big Dog 10,747]

That canard has been debunked over and over.

How so? Which of the facts presented are incorrect?

[Obama 2012 1,714]

Interesting. Especially if you consider that of the roughly 53 million acres offered for lease in 2009 and of the 37 million acres offered for lease in 2010, only 2.7 and 2.4 million acres were actually leased. The government has been offering up the leases but there ain't no takers. That might be because the oil producers are already sitting on huge leased acreage that they're neither exploring nor developing. Of the 38 million offshore acres currently under lease, only 10 million acres have exploration or development plans. In order to speed up production, the DOI has actually changed the lease terms introducing escalating rentals as an incentive for early exploration.

Go re-read your link. "Approved" plans. Makes a huge difference.

When you look at the amount "pending," it really explains/says alot.

Then of course, the list report doesn't covered all of the denied leases/claims to areas that would give us large oil reserves or send a direct pipeline into the US from Canada.

So while you think you might be playing 'gotcha' with your report, it actually just backfired on you.

[Mr. Big Dog 10,747]

When you look at the amount "pending," it really explains/says alot.

From the source:

"Approximately 70% of the Undiscovered Technically Recoverable Resources currently under lease in all areas of the Federal Gulf of Mexico are not producing or not subject to approved or pending exploration or development plans."

For 70% of the leased acreage, there's not even so much as a pending exploration or development plan. There's nothing on it. Nada. These resources sit idle. Of the additional leases offered, only single digit percentages actually have takers. How will a bill that wants to put more acres into the offering change any of that? It won't. It's feel-good activism. The price of oil and hence the price at the pump won't move down as a result of such bill. Simple as that.

Edited May 6, 2011 by Mr. Big Dog

[Zero Sum 305]

Once again.