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H.R. 6251, The Responsible Federal Oil and Gas Lease Act
- This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
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Visitor Comments
Mike Gibson
June 19, 2008, 3:11pm (report abuse)Many of these areas have been heavily explored. Areas that have not yet been developed are higher risk, lower potential areas. The companies who now own them probably have marginal prospects where it is not easy to find partners. The costs of tubulars (casing and tubing) have doubled and rigs are booked years in advance due to increased activity because of high prices. Putting additional restraints on marginal prospects may cause them to never get drilled. This seems short sighted. I am small independent and will never be offshore or in ANWAR. So I don't really care if they ever get opened up. It is probably better for me if they don't. My product, produced in old fields on the gulf coast, will stay more valuable.