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Wednesday, June 11, 2014

Federal Delays on Permitting Slow Shale Boom in Some Locations

Federal government dragging
its feet on drilling permits?
From Investors.com:
Innovative drilling techniques have transformed the U.S. into the world's top producer of petroleum and natural gas. Recent analysis suggests America is in the midst of the second biggest oil boom in history. 
Yet, there are regions in the U.S. where energy production has unjustifiably dropped in recent years. Their common denominator is ownership by the federal government and operation by the Obama administration's Department of Interior. 
According to a new report by the Congressional Research Service, while oil and gas development on private and state lands has surged, production on federal lands has fallen. The dichotomy can only be explained by blatant, pernicious Obama administration policies. 
According to the CRS, between fiscal years 2009 and 2013 oil production on private and state lands jumped 61% (an average increase of 2.1 million barrels per day), while federal-land output fell 6%. With natural gas production in the same five-year span, production rose by one-third on private and state lands, but decreased 28% on federal lands.
Read the whole article by clicking here.

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