Parties Jostle for Bragging Rights on Oil Drilling
Wednesday, May 23, 2012 - 02:07 PM
(New York, NY -- Stephen Reader, It'sAFreeCountry.Org) The Obama administration will auction off more than 38 million acres of the Gulf of Mexico to oil companies next month, touting the sale as a boon for the president’s energy résumé — which, while boasting increased domestic production, remains haunted by high gas prices, offshore drilling bans and one big oil spill.
The lease sale, scheduled to take place in the Mercedes-Benz Superdome in New Orleans on June 20th, will allow companies to secure more available acres off the coast of Louisiana, Mississippi and Alabama. The sale won’t, however, open up any new waters for drilling that weren’t previously approved by the Bureau of Ocean Energy Management’s current five-year lease plan, which expires at the end of 2012.
Currently, the Department of the Interior only leases acres in the Gulf of Mexico and off the coast of Alaska. Oil companies, Republicans on Capitol Hill, and the man running to beat Obama all wish that list were longer.
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