Replies to post #1572 on The Rising Influence of Rising Affluence

[OakesCS]

the 'info' i posted was from a Boots & Coots engineer and i didn't make any attempt to verify it. The leases he referred to were off of Virginia. Wouldn't surprise me if they also weren't economic - at least at that time.

[OakesCS]

i looked into this a bit. it looks like the leases in question were off of North Carolina: the Manteo block.

There was a heap of litigation over the leases which seems to have involved Mobil, Marathon, and Chevron. Eventually, the US Supreme Court did rule in favor of Mobil that there had been a taking.

http://www.gomr.boemre.gov/homepg/offshore/atlocs/manteo.html

a somewhat succinct chronology of US offshore drilling moratoria
http://www.taylor.house.gov/index.php?option=com_content&view=article&id=149:chronology-of-moratoria-on-offshore-drilling&catid=29:defense&Itemid=59