Well, Pastor Mitchell, you might be interested in the story of Destin Dome:
"Those bans didn't cover the Destin Dome, which went on the block in 1984. Chevron and partners Conoco and Murphy Exploration & Production drilled three exploratory wells there in 1987, 1989 and 1995 that found an estimated 2.6 trillion cubic feet of natural gas. But to actually produce gas, Chevron needed federal and state approval.
Chevron submitted a development plan to the state and the Interior Department for review in 1996 -- an inauspicious time for offshore drillers. George Bush I in 1990 had placed a temporary moratorium on new drilling off South Florida, fulfilling a campaign promise to Sunshine State voters. Then, in 1995, the Clinton administration came out against new lease sales, and Florida's congressional crew, both Republicans and Democrats, successfully supported another moratorium on new drilling to replace one that had expired.
Chevron proposed drilling 12 to 21 gas wells. Florida bureaucrats took their sweet time before nixing the application two years later. Chevron appealed to the Department of Commerce, which can overturn state decisions. Reluctant to upset anyone, Commerce simply stalled. Under the law, there is no deadline on appeals. Chevron sued the federal government in 2000, claiming it had been denied a timely and fair review of its plans.
Clinton stepped down, and Bush II was sworn in. His Commerce Department twiddled its thumbs, too. Meanwhile, Bush met secretly with Florida's then-governor -- his brother Jeb -- a foe of offshore drilling. They agreed to have the federal government buy back the leases for $115 million and place a moratorium on drilling at the Dome until 2011. There are now 140 actual leased tracts there that can't be drilled, reports Lisa Flavin, a senior policy adviser at the American Petroleum Institute in Washington.
When President Bush suddenly flip-flopped this month and said he favored drilling on the Outer Continental shelf, Democrats accused him of wanting to give more land to Big Oil. Thundered Rep. Ed Markey of Massachusetts: "Oil companies already own 68 million acres of drillable land and sea, which is the size of Georgia and Illinois combined, but they're not producing there." They should use it or lose it, he added. But those acres include the Destin Dome!
Chevron took its lease refund to help finance a $12 billion project in Angola to produce liquefied natural gas for shipment here. Ironically, a major gas pipeline between Texas and Tampa runs right by the Destin Dome."
- rest at
http://online.barrons.com/article/SB121460971892012411.html?mod=googlenews_barrons