New Report Shows Which Companies Are Not Using Drilling Leases
WASHINGTON (October 22, 2012) – During last Tuesday’s Presidential debate, President Barack Obama called out oil companies for leaving oil drilling leases of public land idle, repeating calls from his administration and Congressional Democrats for the oil companies to “Use It or Lose It.”
A new investigative report released today tells Americans for the first time exactly which companies are not using -- and also not losing -- oil drilling leases in offshore areas in the Gulf of Mexico, withholding oil production from the American people while holding onto their taxpayer-owned land. Previously, only aggregate information was available regarding the overall number and size of unused offshore leases, without a company-specific breakdown.
"Use It or Lose It: Big Oil not using drilling leases in the Gulf of Mexico" was prepared by the Democratic staff of the Natural Resources Committee, at the direction of the top Democrat on the committee, Rep. Ed Markey (D-Mass.), based on data requested by Rep. Markey over the last several months from the Department of Interior regarding all leases held in the Gulf of Mexico.