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Politics : Politics for Pros- moderated
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To: Carolyn who wrote (256205)6/30/2008 1:07:26 PM
From: Brumar89  Read Replies (1) of 793917
 
Dang, the o&g business is so simple when you look at it from Washington:

"If we extrapolate from today's production rates on federal lands and waters," the authors write, the oil companies could "nearly double total U.S. oil production" (their emphasis).

In other words, these whiz kids assume that every acre of every lease holds the same amount of oil and gas.

I understand natural gas leases are going for $5000 an acre in Tarrant County TX. By extrapolation, the drilling rights for my family's little bit of acreage in IL s/b worth $250K. Now if I can just get someone with a checkbook to buy that extrapolation argument.
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