In an effort to further increase domestic oil and gas production, the Obama Administration has approved oil and gas exploration in an additional 20 million acres in the Western Gulf of Mexico. This area spans areas of the continental shelf from 16 to 250 miles off of the coast of Texas.
The Administration’s goal has been to continue to increase domestic oil and gas production as part of its “all-of-the-above” energy strategy. As a result, domestic production has been on the increase for the last few years and in 2011 was at a level higher than it has been since nearly the turn of the century. Foreign oil imports have also fallen off in step and are now at the lowest level since 1995.
Another 38 million acres in the Gulf off of the coasts of Louisiana, Alabama, and Mississippi are scheduled to be opened to exploration in 2013.
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