SteveB/Colorado

CANROYs Remain Attractive as Oil-Related Investments

This is a good discussion and I appreciate Mr. Yetiv's insight into the CanRoys. I've held several for about 6 years now. I do need to make one comment about Loup-Garou's reference to "dictator Pelosi stopping American energy independence." I'm no fan of Pelosi, but she isn't stopping anything. The energy companies are.

According to Republicans for Environmental Protection (rep.org), from a post in June by their staff, about 44 million acres of the federal outer Continental Shelf have been leased, but only 10.5 million acres are in production. Why? Yes, there are reasons like a shortage of deep sea drilling rigs. But the loud rhetoric to "lease & drill now" to bring down prices at the pump rings hollow in the face of the facts.

Onshore, 47.5 million acres have been leased, mostly in the West and mostly for natural gas. But again, only 13 million acres are in production. Same issues--shortage of drill rigs? Maybe. But sadly, there is no shortage of inflammatory rhetoric from those who think the USA can drill its way to energy independence.