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.
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