Oil and Gas Lease Utilization, Onshore and Offshore

On March 11, 2011, President Obama directed the Department of the Interior (Department) to determine the acreage of public lands that had been leased to oil and gas companies but remain undeveloped, noting that companies should be encouraged to produce energy from leases that they are holding. The Report reached several important conclusions: First, the Department has offered substantial acreage for leasing and resource development, but much of this acreage has not been leased by industry. Second, tens of millions of acres that are currently under lease remain idle. Because these areas are not undergoing exploration, development, or production, taxpayers are not getting the full advantage of America's resource potential.Soon after the release of the Report, the President released a Blueprint for a Secure Energy Future, a comprehensive energy strategy to secure America's energy future by producing more conventional energy at home while working to reduce our dependence on oil by leveraging cleaner, alternative fuels and greater efficiency. Included in the Blueprint were a number of steps to encourage safe and responsible domestic energy production both onshore and offshore - including steps to encourage diligent development.This Report updates the Department's 2011 Report, outlines some of the policies that are being implemented, consistent with last year's findings and the Blueprint, and describes some of the geographic areas that best reflect the promise of this Nation's onshore and offshore energy resources.

Author: U. S. Department of the Interior

Publisher: Createspace Independent Publishing Platform

Publication Date: Dec 06, 2014

Number of Pages: 26 pages

Binding: Paperback or Softback

ISBN-10: 1505393043

ISBN-13: 9781505393040