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"Idle" lease claims based on lack of understanding: Cavaney

WASHINGTON, June 19, 2008 - In a letter to Congress, API President and CEO Red Cavaney said that proposed legislation that would deny new leases to oil and natural gas companies that have so-called "idle" leases would keep more of America's vast energy resources locked up underground and seriously harm the nation’s ability to produce sufficient energy to meet demand. Cavaney said these claims of “idle” leases are “based on a lack of understanding of the mechanics and due process involved in oil and natural gas exploration and production.”
  • Exploration