A model for future leasing, now that the OCS moratorium has expired:
NEW ORLEANS – The Department of the Interior’s Minerals Management Service (MMS) has proposed that oil and gas Lease Sale 208 for the Central Gulf of Mexico Planning Area be held March 18, 2009. The Notice of Availability of the Proposed Notice of Sale (PNOS) was published in the Federal Register on Friday, October 3.
The proposed sale encompasses approximately 6,200 unleased blocks covering more than 33.5 million acres offshore Louisiana, Mississippi, and Alabama. This area includes 5.8 million acres, known as the 181 South Area, that will be offered for lease for the first time since 1988. “What makes Sale 208 noteworthy is the addition of the 181 South Area,” said MMS director Randall Luthi. “The states of Alabama, Mississippi, Louisiana, and Texas will share in all revenue from leases in this new area.”
The Gulf of Mexico Energy Security Act of 2006 mandated that the 181 South Area, approximately 5.8 million acres located in the southeastern part of the Central Planning Area, be offered for lease, and that the four Gulf producing states share in the revenues.
According to MMS estimates, the proposed lease sale could result in production of approximately 0.807 to 1.336 billion barrels of oil and 3.365 to 5.405 trillion cubic feet of natural gas. But…
The darkening economic outlook may force lawmakers to delay some public policy priorities, but two House Democrats indicated Tuesday that curbing global warming won’t be one of them.
House Energy and Commerce Committee Chairman John Dingell (D-Mich.) and Energy and Air Quality subcommittee Chairman Rick Boucher (D-Va.) released a 461-page bill that seeks to cut greenhouse gas emissions by roughly 80 percent over the next four decades. Environmental groups welcomed that target, but criticized the bill, which Dingell and Boucher refer to as a “discussion draft,” for delaying dramatic emissions reductions until after 2020.