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Oil and Gas Leases
Talking Points
Washington,
Jun 18 -
Democrat Claim: The Bush Administration has increased the number of acres that have been leased for oil and gas exploration yet those leases have not been developed; and the price of gasoline has continued to rise.
Fact #1: Exploration is up, but production is down: Drilling of oil and
natural gas exploratory wells increased by 98% from 2000 to 2007. Yet,
crude oil production decreased 12.4%. (U.S. Energy Information
Administration)
Fact #2: Not all leases contain oil: Sometimes at the end of the day there is
no oil &/or gas found on a lease. For example between 2002 and 2007 52%
of all the exploration wells and 8% of the development wells were dry. (U.S.
Energy Information Administration)
Fact #3: Our most promising areas for oil and gas development are offlimits:
Only 3% of the United States’ 1.76 billion acre outer continental
shelf (OCS) is leased for oil and gas exploration and development. (Minerals
Management Service)
The Bureau of Land Management (BLM) manages the 700 million acres
federally owned sub-surface mineral estate, only 6% of which has been
leased for oil & gas exploration and development. (Bureau of Land
Management)
Fact #4: Most increased exploration was for natural gas: 73% of all
exploratory and development wells in 2007 were for natural gas. (U.S.
Energy Information Administration)
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