Friday, November 07, 2008

GAO Encourages Oil and Gas Development Oversight

From the Associated Press: "In a review of the 55,000 federal oil and gas leases issued to energy companies by the Interior Department from 1987 to 1996, the Government Accountability Office found that the majority expired without any drilling and that few actually produced oil and natural gas."

The Government Accountability Office (GAO) released this report to the public on November 4: "Oil and Gas Leasing: Interior Could Do More to Encourage Diligent Development."

Source: Associated Press. (5 Nov. 2008). "GAO Urges Interior to Speed Oil Drilling on Federal Land." Washington Post. A21.

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