A Billion Dollar Delay – Hurrah!

WASHINGTON (Reuters) Mar 24, 2009 (excerpt)

Salazar also said he supports expanding offshore oil and gas production as a part of a larger U.S. energy plan. The department is considering contracting private companies to collect seismic data on oil and gas reserves in recently opened areas off the Atlantic and Pacific coasts, because existing information is outdated, he said.

“I don’t know how you can make honest thoughtful decisions, whether it is to develop or not to develop (offshore supplies), without having the best science on the table,” Salazar said.

He said it would cost about $1 billion to collect new data on offshore resources and the department will decide by the summer how to proceed.

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