Jun 21 - 23, 2017 - New York, United States
According to a new report from the Congressional Research Service (CRS), oil production on federal lands is slightly above its high in fiscal year 2010 when President Obama forced a moratorium on offshore energy permitting. In fiscal year 2015, oil production on federal lands was 0.8 percent more than its high reached in fiscal year 2010. In contrast, oil production on private and state lands has been booming and was 113 percent higher in fiscal year 2015 than in fiscal year 2010. Similarly, natural gas production on federal lands was 27 percent less in fiscal year 2015 than in fiscal year 2010. In contrast, natural gas production on private and state lands in fiscal year 2015 was up by 55 percent since fiscal year 2010. These are enormous differences in outcomes between federal and nonfederal lands and waters. If more oil and gas production is a good thing for the United States, the Obama Administration’s policies on federal lands and waters are certainly a lesson in what not to do.
In fiscal year 2010, 36 percent of our nation’s oil production was produced on federal lands. Due mainly to Obama Administration policies, by fiscal year 2015, only 21 percent of our nation’s oil production was produced on federal lands. The government’s share of meeting our energy needs is dropping precipitously. Production on non-Federal lands, in contrast, is skyrocketing as hydraulic fracturing and horizontal drilling have increased production dramatically. Oil production on non-Federal lands increased by 14 percent in fiscal year 2015 from fiscal year 2014 levels—an increase of close to one million barrels per day, while oil production on federal lands increased by 8 percent—just 0.15 million barrels per day.
Source : Institute for Energy Research