stlhead, giving those oil exploration leases, which are sitting idle, are subsidies for the oil companies...we're giving them acess to public resources on public lands because they are supposed to be providing a public benefit.




http://www.msnbc.msn.com/id/23051078/

Seven companies offered bids totaling nearly $3.4 billion. High bids added up to nearly $2.7 billion on 2.76 million acres.

Shell, bidding as Shelf Gulf of Mexico Inc., submitted 275 high bids adding up to $2.1 billion. Shell bid $105 million for one tract that worked out to be $18,497 per acre.

ConocoPhillips submitted 98 high bids adding up to $506 million and competed with Shell for dozens of other. ConocoPhillips was unsuccessful on 47 tracts for which it bid $593.6 million. Shell was unsuccessful on 27 tracts for which it had bid another $82 million.

Five other companies had high bids. Repsol E&P USA Inc. had 93 high bids that added up to $14.4 million. Eni Petroleum US LLC had 17 for $8.9 million and Statoil Hydro USA E&P, Inc., had 16 high bids for $14.4 million. Iona Energy Co. (US) Limited and North American Civil Recoveries Arbitrage had one each for $61,000 and $400 respectively.

Dan S-

I'll bet you're just the guy to help me convert grams to ounces and Canadian dollars to US dollars! "too high" - you're killing me!!!

Tod,
I can just imagine Cheney with his "secret energy meeting" pals ..."well,it's been about five years now let's rerun the blame the enviros line again, that worked until we got their money last time. Oh ya, looks like it's about time to bring back the old "smoking gun in the form of a mushroom cloud" line again too,that worked great!" If there ever is an accounting of what this administration has cost our country, I'm sure it will be hideous.

Oh ya, Exxon cant do anything without Dick Cheney. Cheney ran an OIL Services company. Eight years ago. Perspective helps.


http://www.halliburton.com/ps/ $50 per share

Proctor and Gamble $60.
Apple $175.00
Google $546.00 per share

XOM - EXXON MOBIL CORP. Trade
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Company Description
Exxon Mobil Corporation engages in the exploration, production, transportation, and sale of crude oil and natural gas. It also engages in the manufacture of petroleum products, and transportation and sale of crude oil, natural gas, and petroleum production.