Skip to comments.Shell says delays in Arctic drilling ‘highly unusual’
Posted on 06/02/2011 10:28:39 AM PDT by thackney
Bloomberg, link only, synopsis below
They are frustrated the government held a lease sale then won't allow the exploration to happen.
In my opinion, the same game is being played in the NPRA. Then Democrats include these acres in their claims about all the leased property that oil companies are not drilling.
But, but, there are more than a few on here who say it is all Sarah Palin’s ACES taxes that is discouraging drilling in AK.
Both are working against bringing more jobs and domestic oil production into the US.
The Foothills of the Alaskan Brook Range are on State owned land and much of the planned exploration there has been scaled back as well.
This really sounds nasty: take the lease money, bureaucratically delay drilling until it expires -- and get the land back...
What a scam!!
Correct, they have 10 years to find oil.
If a discovery is made within the initial period of the lease, the lease is extended for as long as oil and/or natural gas is produced in paying quantities or approved drilling operations are conducted.
LEASING OIL AND NATURAL GAS RESOURCES
OUTER CONTINENTAL SHELF
Some Gulf of Mexico leases are only 5 years, deep water tend to be 10 year.