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Few elements of oil and natural gas development in the United States have experienced a seemingly endless teeter-tottering series of ups and downs as have plans for leasing in the federally-owned waters of the Outer Continental Shelf (OCS). Beginning in 1981, when Congress passed the first of many annual moratoria on new OCS development, subsequent congresses and presidents have struggled to arrive at exactly the right policy approach to accessing and producing the rich energy resources that lie beneath these waters.
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