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NARUC study lists adverse impacts for ongoing OCS ban

02/22/2010
By Nick Snow
Continuing US offshore oil and gas leasing moratoriums from 2009 through 2030 would decrease US oil production by 9.9 billion bbl—or an average 15%/year—and natural gas production by 46 tcf—or 9%/year—a study commissioned by the National Association of Regulatory Commissioners concluded.The study, which NARUC released on Feb. 15 during its 2010 winter meeting in Washington, DC, also predicted that US oil imports from members of the Organization of Petroleum Exporting Countries would climb by 4.1 billion bbl, or an average 19%/year, during 2009-30 if US offshore leasing bans continue. This would result in $607 billion more in payments to OPEC producers, or $295 bill...
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