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Aggregating Energy Since 2006

Coastal Oil Drilling Incentives Offer Little

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The New York Times is reporting that a U.S. Department of the Interior report ("Incentives on Oil Barely Help U.S.", delayed for over a year, estimates that off-shore drilling incentives for the Gulf of Mexico do little to induce additional supply.

"But industry analysts who compare oil policies around the world said the United States was much more generous to oil companies than most other countries, demanding a smaller share of revenues than others that let private companies drill on public lands and in public waters. In addition, they said, the United States has sweetened some of its incentives in recent years, while dozens of other countries demanded a bigger share of revenue."