In Dec, 2006, as one of the GOP's last acts before the dems took control of Congress, the Domenici-Landrieu Gulf of Mexico Energy Security Act was passed. This opened about 2 million acres in Lease Area 181 to drilling.
Correct, except...
It takes two to six years to bring offshore leases into production depending on depth and other considerations.
Procure the lease by bid process from the Government on their schedule. At least a year...
Off shore seismograph examination to map likely areas. At least six months...
Off shore test drilling from a jack up barge (shallow) or drill ship (deep). Six months to a year plus...
Platform design and fabrication. Six months (shallow) to two years or more...
Set the platform, drill the wells (50 to 200 per platform), lay pipeline to shore, construct shore pumping & production facilities and assemble the production modules, then commission. Six months to a year...
You now have a new offshore field in production for a one to three billion cost, give or take...
Are the eeeeeeeeeeeeeeeeeeeeeevil oil companies simply refusing to drill there, or are they currently mapping the place out before they determine whether to drill?