How many times have you heard a Republican interviewed about energy and they say we would have lower gas prices and wouldn’t need to rely on imports from the Middle East if us terrible liberals would just let oil companies have access to more public lands. Maybe dozens or hundreds of times right. Whenever you hear somebody say this they are liars. Why, well keep reading.
The U.S. Department of Interior has just released its latest assessment of oil and gas leases on federal land. Two-thirds of the off-shore leased acreage and half the on-shore acreage in the 48 contiguous states is idle. The companies holding those leases are not actively exploring or otherwise developing them.
According to the report, more than 70 percent of the tens of millions of offshore acres currently under lease are inactive, neither producing nor currently subject to approved or pending exploration or development plans. Out of nearly 36 million acres leased offshore, only about 10 million acres are active—leaving nearly 72 percent of the offshore leased area idle.In the lower 48 states, an additional 20.8 million acres, or 56 percent of onshore leased acres, remain idle.
Oh and just to be clear, if you think this report isn’t accurate cause Obama is in office, you would be wrong. The same reports came out under George Bush.