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Week of June 15, 2008 - June 21, 2008

House Natural Resources Committee Report: The Truth About America’s Energy


From Bluestem Prairie blog written by Ollie Ox for Tim Walz MN-01:

http://www.bluestemprairie.com/a_bluestem_prairie/2008/06/house-natural-r.html

_ On the Outer Continental Shelf, 82% of federal natural gas and 79% of federal oil is located in areas that are currently open for leasing.

_ Onshore, 72% of oil and 84% of natural gas resources are either fully accessible under standard lease stipulations designed to protect lands and wildlife, or will be accessible pending the completion of land-use planning or environmental reviews.

_ Between 1999 and 2007, drilling permits for oil and gas development on public lands increased more than 361%.

_ Since 2004, the Bureau of Land Management has issued 28,776 permits to drill on public land; in that same time, only 18,954 wells were actually drilled.

_ Oil and gas companies have stockpiled nearly 10,000 extra permits to drill that they are not using to increase domestic production.

_ Onshore, of the 47.5 million acres of federal lands leased by oil and gas companies, only about 13 million acres are actually producing oil and gas.

_ Offshore, only 10.5 million of the 44 million leased acres are currently producing oil or gas.

_ Combined, oil and gas companies hold leases to nearly 68 million acres of federal land that are not producing oil and gas.

_ The 68 million acres of leased, inactive federal land could produce an additional 4.8 million barrels of oil and 44.7 billion cubic feet of natural gas each day.

_ That would nearly double total U.S. oil production, and increase natural gas production by 75%.

_ 4.8 million barrels of oil equals more than six times the estimated peak production from the Arctic National Wildlife Refuge. 

_ Development of and production from the 68 million acres currently under lease but not in production would cut US imports of oil by one-third.

There's much more and a link to the majority report of the House Committee on Natural Resources.  Check it out and spread the word.

 


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