Markey's 'use it-lose it' logic

In an attempt to support a US president whose energy policies have been hostile to oil and gas, Rep. Edward J. Markey (D-Mass.) asked for a status report on Gulf of Mexico leases. "President Obama is right," Markey not surprisingly uttered in October. "When it comes to the oil drilling leases these companies hold on America's public land, they need to use it or lose it to a company that will drill," he maintained. In the report Markey commissioned, the US House Natural Resource Committee's minority staff concluded that more than 100 oil and gas producers hold but are not drilling nearly 3,700 leases in the gulf. Some of us in the newsroom can't remember a more obvious ...

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