10-12-2015, 03:08 PM
Oh, and it's worse.
https://www.washingtonpost.com/posteverything/wp/2015/06/16/oil-companies-are-drilling-on-public-land-for-the-price-of-a-cup-of-coffee-heres-why-that-should-change/
That's part of the reason oil companies want to drill here — it's cheap compared to some other countries. And from what I've read, there aren't a lot of projections on how much of it will be exported, but it will be a small drop in a big barrel. Which means there won't be much impact on the price we pay.
Quote:While the $2 minimum bid for federally auctioned oil and gas leases is only the starting price, about 40 percent of existing leases were sold at that level. Further, annual rental fees for onshore oil and gas leases – $1.50 per acre during the first five years and $2 per acre each year thereafter – allow drilling companies to hold and explore mineral leases for the price of a cup of coffee.
https://www.washingtonpost.com/posteverything/wp/2015/06/16/oil-companies-are-drilling-on-public-land-for-the-price-of-a-cup-of-coffee-heres-why-that-should-change/
That's part of the reason oil companies want to drill here — it's cheap compared to some other countries. And from what I've read, there aren't a lot of projections on how much of it will be exported, but it will be a small drop in a big barrel. Which means there won't be much impact on the price we pay.
![[Image: 4CV0TeR.png]](https://i.imgur.com/4CV0TeR.png)
