The Obama administration current 5-year offshore drilling proposal will further block access to drilling on Federal lands. Lets look available and blocked offshore drilling sites under Bush and under Obama.
OFFSHORE UNDER BUSH
OFFSHORE UNDER OBAMA
Maps and history of the Bush and Obama Administrations regarding offshore oil and gas can be read in more detail here.
Raising Onshore Oil Production Costs
In addition to restrictions, Bureau of Land Management Director Bob Abbey said last week at a Senate Appropriations Committee on Interior hearing that federal regulations applied to oil and gas development simply make it more expensive than producing on state or private land according to a posting on Institute for Energy Research website. Then he remarked that the Administration is currently considering raising onshore production royalty rates from 12.5% to the 18.75% that is charged for offshore oil; in fact, he said that the Department of Interior’s upcoming budget depends on an assumed 50 percent increase in royalty rates.
More blocking of access and higher rates. How is this helping the US consumer?