The Gulf isn't all the way back, after the first oil and gas lease sale for the central Gulf of...


The Gulf isn't all the way back, after the first oil and gas lease sale for the central Gulf of Mexico since the BP spill draws a "less than robust" $1.7B in winning bids from energy companies. Just 6% of tracts available for lease received bids, vs. 7% in a 2010 central Gulf lease sale and an average of 9% over the previous five central Gulf sales. (also)

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Comments (6)
  • HoeTamer
    , contributor
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    Why would a company waste their money on a lease when there is -ZERO- possibility of getting the proper permits to drill.
    20 Jun 2012, 08:33 PM Reply Like
  • timddeb
    , contributor
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    the same reason you might buy a penny stock. It might change. You might have inside info. Or you might be drunk at a party and put a bid in without thinking.
    20 Jun 2012, 08:39 PM Reply Like
  • HoeTamer
    , contributor
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    Your theory reminds me of Prom night, you'll spend $150 on a Tux and dinner hoping you get lucky after you've already spent the money.
    20 Jun 2012, 08:47 PM Reply Like
  • Cincinnatus
    , contributor
    Comments (6187) | Send Message
     
    The sale was 80% higher than the April 2010 sale. The "less than robust" analyst comment is nonsense. It makes no sense for companies to lease more than they can explore and get through the permitting process, which the Obama administration is still throttling.
    21 Jun 2012, 12:48 AM Reply Like
  • ebob
    , contributor
    Comments (20) | Send Message
     
    Dont blame the people trying stop another BP type disaster, only the oil companys that cause these problems are to blame!
    21 Jun 2012, 10:22 PM Reply Like
  • Cincinnatus
    , contributor
    Comments (6187) | Send Message
     
    The delays and stalling are for political reasons - it has nothing to do with safety. In fact the commission that Obama had look into this advised his administration to not impose the moratorium as it would result in a decrease in safety. Not only did Obama ignore them but the report he published falsely implied that they had endorsed his decision, and they had to come out publicly after the report and deny that they had given their endorsement.
    21 Jun 2012, 10:52 PM Reply Like
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