Interior Sec Norton: 90% Of Oil, 72% Of Gas Shut In US Gulf

NEW YORK Oct 06, 2005 (Dow Jones Commodities News Select via Comtex)

Interior Secretary Gale Norton said about 90% of oil production and about 72% of gas production is currently shut in in the U.S. Gulf of Mexico.

In a CNBC interview Wednesday, Norton said the Gulf of Mexico is a "key place" for the Bush administration's short-term energy goals and restoration of production is a priority. The administration is considering a broad range of other energy initiatives, she said.

"We've been looking at what we can do to expedite drill permits onshore," Norton said.

Further, Norton said the administration is considering proposals to share oil and gas tax revenue from offshore production with coastal states.

Norton also said the Arctic National Wildlife Refuge and a potential Alaskan natural-gas pipeline are part of the administration's long-term strategy.

(C) 2005 FWN Select. All Rights Reserved

Related Companies
 Company: Minerals Management Service (MMS)more info
 - Obama Names New Head of MMS (Jun 15)
 - Abbey Implements New Drilling Requirements (Jun 7)
 - MMS Chief Resigns (May 27)

Our Privacy Pledge

Most Popular Articles
Related Articles

Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
Natural Gas : $2.76/MMBtu 1.09%
Updated in last 24 hours