The American Association of Petroleum Geologists president Will Green recently drafted a letter to House Speaker Nancy Pelosi, Majority Leader Steny Hoyer and Minority Leader John Boehner. It was a response to the recent debate about access and leasing activities on federal lands. The geologists' organization strove to make several key points. It marked the long lengths of time often required to find oil and gas deposits and bring them to market, as well as the risks of exploration. AAPG pointed out the variability of the distribution of oil and natural gas deposits in the subsurface. One of the common misunderstandings the industry faces is the perception that it sits upon vast tracts of federal acreage that it does not develop. The professional organization noted that some acreage available for leasing is never leased, because there is no compelling idea of why oil or natural gas should occur there. Other acreage is leased and repeatedly drilled with no success. Initiatives to increase exploration costs, decrease the available time to properly evaluate leases, and restrict access to federal lands both onshore and offshore "do not provide the American people with short-term relief from high prices and undermine the goal of increasing stable, long-term supplies," wrote Green. True indeed. To read the entire letter, click here by Peggy Williams, Senior Exploration Editor, Oil and Gas Investor email@example.com
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