Comment— US offshore oil and gas policy: A fresh look is needed

08/12/2002
Recent reports from Standard & Poor's indicate the US oil and gas supply is being threatened by the Bush administration's failure to counter the effects of plunging supplies and tensions in other producing nations. The US offshore oil and gas program is a case in point that exemplifies why the US needs to take a fresh look at how it is managing its own resources. The US offshore is an important source of domestic oil and gas. Today more than 25% of our domestic production of oil and gas comes from the offshore areas of six states: Alabama, Alaska, California, Louisiana, Mississippi, and Texas. An estimated 60% of the remaining US domestic oil and gas resources is located offshore....
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