When President Trump takes office, one of the first things he is expected to do is to accelerate the approval of permits to drill for oil and gas on federal land. But this is likely to have little to no impact on the production of fuel from federal lands. Why? Because there are already more than 6,000 approved drilling permits and millions of acres of leases owned by oil and gas companies on public lands that are not being used. We explore this curious phenomenon with an oil industry veteran: Mark Finley, former chief U.S. economist with BP who is now an independent expert on energy and global oil at Rice University’s Baker Institute for Public Policy.
