federal leases

6:47 pm
Tue May 15, 2012

More than half of federal oil and gas leases idle

More than half of the public lands in the continental U.S. that have been leased to oil and gas companies are not actually being drilled, according to a report by the Department of the Interior.

Bruce Hinchey of the Petroleum Association of Wyoming says that’s because there are so many hoops that oil and gas companies have to jump through. He says it often takes over a year to get a permit to drill. And Environmental Impact Statements, which are required for large-scale energy development, take even longer.

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