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Many Gulf Of Mexico Oil Leases Remain Untapped

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Many Gulf Of Mexico Oil Leases Remain Untapped

Business

Many Gulf Of Mexico Oil Leases Remain Untapped

Many Gulf Of Mexico Oil Leases Remain Untapped

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High gas prices are prompting calls for increased oil drilling along the Atlantic and Pacific coastlines. Democrats are urging oil companies to drill under leases they already own, and not in protected areas. But a drilling lease is like a fishing license — having a lease doesn't guarantee you'll produce oil anytime soon, if at all. Moreover, companies that want to drill don't necessarily have the equipment or labor to do it.

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