House Subcommittee to Look at Offshore Drilling
Articles — By forcechange on March 16, 2009 8:42 am
The NY Times (via Greenwire) reports that on Tuesday:
The [House] Energy and Mineral Resources Subcommittee will hold the latest in a series of hearings on petroleum development on the outer continental shelf, or OCS, that will feature an official with the Minerals Management Service, Interior’s acting inspector general and a Government Accountability Office expert.
The House hearing is expected to explore allegations that oil companies are failing to produce energy from tens of millions of acres of existing leases on federal lands and waters even as the industry is pressing for new areas to be made available, among other OCS drilling issues.
President Obama’s 2010 budget addresses some of these concerns by calling for:
several changes, including new fees on nonproducing Gulf of Mexico leases, part of a “use it or lose it” strategy Democrats say is needed to encourage production from acreage already offered for leasing.
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