While private energy booms, Dems blame sequester

A new report by Democrats on the House Appropriations Committee details the various cuts and revenue losses resulting from the sequester, including the lost revenues from reduced oil and gas leases and coal sales. The report says that the sequester will cause the Bureau of Land Management to process up to 400 fewer oil and gas drilling leases and issue 150 fewer leases. This will cost the government $150 million in revenue, according to committee Democrats.  Oil and natural gas production on private and state lands has increased under President Barack Obama. Non-federal lands produced 3,487,800 barrels of oil per day in 2009, which grew to 4,580,800 barrels per day last year. Non-federal lands also produced 16,233 billion cubic feet of natural gas in 2009, which grew to 20,242 billion cubic feet in 2012. On federal lands, however, production has fallen since the beginning of Obama’s tenure. In 2009, the U.S. produced 1,731,500 barrels per day on federal lands, but in 2012 federal lands only produced 1,627,400 barrels per day. The total share of crude oil produced on federal lands fell to 26 percent in 2012 from 33 percent in 2009. Natural gas production on federal lands fell from 5,376 billion cubic feet in 2009 to 3,724 billion cubic feet last year...more