for Offshore Drilling
On the agenda at budget hearings this week will be energy innovation, the proper size of the Strategic Petroleum Reserve (SPR), offshore drilling, and oil production on public lands.
The results from the BOEM's auction this week were disappointing. The weak interest in the Gulf of Mexico from the industry stems mostly from the current low oil price environment.
States that are major oil and gas producers are seeing significant holes in their budgets in part due to low prices. One major player on this list is Louisiana, which has a long energy-rich history and is going through a severe fiscal crisis at the moment.
In a major reversal, the Obama Administration switched tactics today on offshore drilling on the Atlantic outer continental shelf (OCS), changing its previously announced plan to allow for bidding on mid-Atlantic OCS blocks during the 2017-2022 planning period.
One thing we do know is that once the primaries are over, the general election will be largely determined by voters in a small number of swing states—some of which have large energy industries, or are strongly invested on energy issues.
We look at the former Maryland Governor's stance on electric vehicles, offshore drilling, gas taxes, and climate change.