Leading oil industry groups said Thursday federal land managers are blocking new energy development and job creation by postponing all oil and gas lease auctions on prime public lands in California until October.
Officials with the American Petroleum Institute, the largest lobbying group for the oil and gas industry, said the U.S. Bureau of Land Management's recent announcement that it will temporarily put off energy leasing in the state will prevent economic growth.
"We now know that California holds a vast amount of oil and natural gas resources, especially in the Monterey Shale located in the central part of the state," John Felmy, the chief economist said in a conference call with reporters Thursday. "Unfortunately, current federal policy continues to prevent our nation from taking full advantage of this opportunity."
Saturday, June 8, 2013
Oil industry: BLM prevents job creation in Calif.
All in the name of "sequester". The true stupidity of the situation? Sequester NEVER DID CUT THE BUDGET. All it did was cut the GROWTH. So it is amazing that all of a sudden, existing government services are curtailed? How is that possible when the government doesn't have less? It still has more.