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EMD-82-82 1 (1982-08-23)

handle is hein.gao/gaobabdou0001 and id is 1 raw text is: REPORT BY THE U. S. General Accounting Office Are Leaseholders Adequately Exploring For Oil And Gas On Federal Lands? Changes to the onshore oil and gas leasing system are periodically proposed based on perceived inadequacies of leaseholder activ- ity. This report provides data, previously lacking, concerning the diligence of indus- try operations and the speculator's impact on lease development. GAO found that --development efforts are directed at lands with the best potential and little additional production would be gained by requiring greater industry activity on Federal lands and --speculators have a mixed effect on development and the impact on reve- nues and production from attempts to eliminate them is uncertain. The Department of the Interior should con- tinue its efforts to speed up lease develop- ment by eliminating unnecessary leasing related delays. 41 S . 1119291 GAO/EMD-28 AUGUST 23,1982 7< C)o