Overproduction of U.S. natural gas, not
burdensome drilling regulations, is driving energy developers from
western public mineral leases to non-federal lands rich in oil to the
east. A new think-tank report
found that liquid hydrocarbons, particularly shale oil, are where the
drilling action is because of low natural gas prices. And this oil is
found under private and state property, not the expanses of federal land
in the Intermountain West. Aggressive production since 2003 has pushed down natural gas prices to
historic lows, while surging global demand has made oil a more
attractive target for energy development, according to report author
Greg Zimmerman, policy director for Denver-based Center for Western Priorities...more
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