Federal Onshore Oil And Gas Leasing Hearing Before the Subcommittee On Mineral

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Federal Onshore Oil And Gas Leasing Hearing Before the Subcommittee On Mineral
United States Congress Senate Committee On Ener
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So you have got authority for that. What I am telling you is that if we have got to continue a Feder- al policy of confusion and this weird way of letting people adver- tise, as Senator Bumpers described here earlier today, the ads run- ning, well, put in your $75 and we will get your name in the pot so maybe it will drawn up. Apparently you want to continue that. I thought Senator Bump- ers was ready to quit on that. But apparently he wants to continue it too. I am not in favor of that. And I ...do not know where you are coming with your $20 minimum. I guess that it over-the-counter too. Is that right? $20 minimum over-the-counter? 83 Mr. BuRFORD. No, sir. Senator Melcher. Oh. You would be $1 over-the-counter. Mr. BuRFORD. Yes, sir. Senator Melcher. All right. That clarifies that point for me. The way you kept mentioning $20, I thought it was $20 minimum over- the-counter too. Mr. BuRFORD. No, sir. Senator Melcher. If they want to bid on it, and they want to bid $20 and higher, fine. Otherwise, we are going to drop it back into the lottery.

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