CBO: Opening All Federal Lands To Drilling Won't Do Much For The Deficit

CBO: Opening All Federal Lands To Drilling Won't Do Much For The Deficit

from Clusterstock by Max Nisen

Opening all Federal lands to oil and gas leasing has long been a point of political contention. The non-partisan Congressional Budget Office put out a report, at the request of Chairman of the House Budget Committee Paul Ryan, that looks at the budgetary effects of immediately opening all federal lands to drilling.
According to the report, that would include two primary areas:

• Lands where leasing is now statutorily prohibited, notably, the Arctic National Wildlife Refuge (ANWR) and
• Onshore and offshore areas that are unavailable for leasing under current administrative policies, including sections of the Outer Continental Shelf (OCS)—generally, the submerged lands between 3 miles and 200 miles from the Atlantic, Pacific, and Florida coastlines—and certain onshore areas in which oil and gas leasing is either restricted or temporarily prohibitedhttp://www.businessinsider.com/united-states-drilling-2012-8?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29&utm_content=Google+Reader.