Will Oil Majors Really Sink Money Into America’s Waters?: Gadfly

6 Jan 2018   Offshore, USA

There are two big complications when it comes to capitalizing on America’s federal waters. (Bloomberg Gadfly) — Energy dominance begins at home, and that includes any beachfront property you might have. The Interior Department unveiled on Thursday a draft proposal for leasing areas of the U.S. outer continental shelf for oil and gas drilling between 2019 and 2024. As five-year plans go, it’s an ambitious one, envisaging leasing on fully 25 out of 26 planning areas — from sea to shining sea, as it were: ClearView Energy Partners (which provided the data for that chart) points out in a report published on Friday morning that the proposal is probably padded for a purpose. Interior knows the list will get whittled down over time, so it’s starting bigly. For an oil and gas industry seeking new prospects, that makes the proposal at least partly a mirage. It’s not that there […]

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