Outer continental shelf oil and gas development: improvements needed in determining where to lease and at what dollar value. Report to the Congress by the Comptroller General of the United States

Technical Report · Mon Jun 30 04:00:00 EDT 1975

OSTI ID:7358899

Recommendations are made by the General Accounting Office (GAO) to the Secretary of the Interior for improving the Federal Government's program for deciding where to lease potential offshore oil resources and at what dollar value. These recommendations call for an exploration program for a systematic planned appraisal of the Outer Continental Shelf (OCS) reserves. Federally regulated and financed industrial involvement in this resource appraisal is recommended. Periodic assessment of economic values used in valuing the resources and adjustment of these values in light of current information are emphasized. It is pointed out that the frequency of leasing should be such as to give the Department of the Interior adequate time to consider all data from OCS appraisal studies. The establishment of a test program to evaluate, offer, and lease entire geological structures--as opposed to the current tract leasing policy--is suggested. The Department of the Interior voiced criticism of some of the recommendations, and a letter expressing the sentiments of the Department is attached. Responses from the Department of the Interior to each of the recommendations are also attached. (BLM)

• Research Organization: General Accounting Office, Washington, D.C. (USA); U.S. General Accounting Office, Washington, DC 20548
• OSTI ID: 7358899
• Report Number(s): NP-20644
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
021000 -- Petroleum-- Legislation & Regulations
03 NATURAL GAS
031000 -- Natural Gas-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
293000 -- Energy Planning & Policy-- Policy
Legislation
& Regulation
294002* -- Energy Planning & Policy-- Petroleum
294003 -- Energy Planning & Policy-- Natural Gas
CONTINENTAL SHELF
ECONOMICS
ENERGY SOURCES
EXPLORATION
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
GEOLOGIC DEPOSITS
GOVERNMENT POLICIES
LEASING
NATURAL GAS
NATURAL GAS DEPOSITS
PETROLEUM DEPOSITS
RESERVES
RESOURCES