Issue Date: January 22, 2007
Record-high oil, gas drilling
Last year, 49,375 new oil and natural gas wells were drilled in the U.S., exceeding every year since 1986, says the American Petroleum Institute in a report released last week. Most, 29,356, were natural gas wells, the trade association reports. Drilling activities jumped in 2000, the report says, and by 2006, the number was nearly double that of the 1990s. The report comes out as oil and gas drilling and production are coming under review in the House and Senate through proposed legislation and hearings. Most of the focus has been on royalties collected from oil and gas companies, but congressional aides say the Department of the Interior, which oversees the nation's drilling activities offshore and on federal lands, will be under sharp examination in the months ahead.
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