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Politics : Politics of Energy
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To: Road Walker who wrote (313)6/12/2008 8:41:49 PM
From: Brumar89  Read Replies (1) of 86355
 
There is a big difference between "reserves" and "territorial waters".

Yes, reserves are proven. What is under closed waters is unknown for certain. They contain no "reserves" but not necessarily no exploitable oil. Offshore leasing is largely limited to offshore TX, LA, MS, and AL. Not a very large territory.

And that still doesn't address their reluctance to drill in areas where they have permission and leases.

You're implying they are reluctant if a lease was issued in 2006 and they aren't drilled in June of '08. Things don't work that fast. There is a lot of drilling going on in the western GLM all the time.

Frankly they seem to like the status quo.

If that were so, the industry wouldn't be lobbying for access to new areas.
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