AMERICA’S ENERGY FORUM Bringing experts and verifiable facts to the energy discussion

Offshore Now

Offshore energy production is a long and arduous process, requiring years of government approvals, exploration, and development.  That’s why, to start reaping the economic and energy benefits of these natural resources, we need to start NOW.

The process to acquire oil and natural gas resources can take as long as 10 years.  The good news is that jobs and governmental revenues will begin to grow as soon as that approval is given.

This is due to the number of processes that must be followed by energy producers and government agencies to lease, explore and develop land for oil and natural gas production.  It can take 3 years of "pre-lease" time to develop prorams and plan for specific lease sales, and then another 1-7 years to have exploration, development and production plans approved.   

Unfortunately, our coastal regions are currently prohibited from consideration for leasing until 2017 under the Administration’s offshore moratorium that was announced in December 2010.
 
Also see: 
Questions and Answers: The Next Five-Year OCS (Outer Continent Shelf) Oil and Gas Leasing Program (2012-2017)

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