Administration Oil Strategy
Contributes to Price Increases
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2009
Administration cancels leases on 77
parcels of land in Utah.
Administration delays new offshore
leasing plan.
Administration proposes billions in
new taxes on oil and gas industry in
FY 2010 budget proposal.
Following protests by
environmentalists, BLM suspends sale
of 31 drilling tracts in Utah.
Administration revisits Utah leases,
continuing suspension or permanently
withdrawing most.
Administration announces new round
of oil shale research and development
leases in Colorado, Wyoming, and Utah with
significantly reduced lease acreage and
unattainable lease terms.
Administration shortens lease terms
for upcoming Central Gulf of Mexico
lease sale.
Diesel, Gasoline and Crude Oil Prices
($/gallon) Crude oil price is average refiner acquisition cost.
Retail prices include State and Federal taxes.
EIA Price Forecast 2013 ($/gallon)
WTI Crude a $2.52; Gasoline b $3.72; Diesel c $4.11
Source: EIA, Short-Term Energy Outlook, March 6, 2012, pages 12-13.
a
West Texas Intermediate; b Average Regular Pump Price; c On-Highway Retail
Diesel
Projected Diesel
Gasoline
Projected Gasoline
WTI Crude
Projected WTI Crude
2009
2010
Administration proposes additional
regulatory hurdles for development on
federal lands.
Administration proposes billions in
new taxes on oil and gas industry in
FY 2011 budget proposal.
Administration cancels the remaining
Alaska lease sales in the Beaufort and
Chukchi Seas offshore and withdraws Bristol
Bay from the program.
Administration cancels the Virginia
offshore lease sale, despite bipartisan
support from Virginia’s governor and
congressional delegation.
2010
2011 2012
Administration proposes billions in Administration proposes billions in
new taxes on oil and gas industry in new taxes on oil and gas industry in
FY 2012 budget proposal. FY 2013 budget proposal.
Administration proposes a ban on Administration rejects permit for
horizontal drilling in the George Keystone XL pipeline.
Washington National Forest.
Administration begins testing water
Administration issues an ANPR wells in Dimock, Pennsylvania despite
regarding new regulations for gas having no new information from laboratory
gathering lines that would substantially results to justify doing so.
impact development of the Marcellus Shale.
Administration recommends removing
Administration proposes one-size- from leasing availability over 1.8
fits-all new source performance million acres of oil shale and tar sands energy
standards that may significantly hamper oil resources in Colorado, Utah and Wyoming.
and gas operations.
Administration again proposes billions
in new taxes.
Administration issues new 2012-2017
five-year plan that fails to open any new
offshore areas to oil and gas development.
Administration releases study plan
on potential impacts on groundwater
from hydraulic fracturing that fails to address
concerns regarding the transparency and
scientific validity of the study approach.
Administration raises the minimum bid
amount for offshore lease blocks in
water depths of 400 meters and greater from
$37.50 per acre to $100 per acre.
Administration produces a draft report
on its groundwater investigation in
Pavillion, Wyoming and receives extensive
criticism for questionable scientific
methodology.
$5.00
Administration cancels a planned
auction of public lands in the Wayne
National Forest.
$4.00
$3.00
$2.00
$1.00
2011 2012