This panel is remarkably similar to the one convened by Salazar that sanctioned the current offshore drilling debacle.

FORBES: Energy: What's All The Fracking Fuss About?

If you are evaluating the current 27.5% miscellaneous offshore penalty and cringing about how much it will hurt, what about opting out?

FORBES: FATCA Blues? Opt Out Of IRS Offshore Program

As if that were not bad enough, the current approach to tackling the problem of onshore and offshore laundering havens is flawed, too.

ECONOMIST: That infernal washing machine

If you want to get depressed about this, bet that the current American mess of monetary and fiscal policy will drive offshore some of the innovation we might have had.

FORBES: 1970s Recovery, But Global

Back an ice age or more sea levels were much lower than they are now and that silt has been deposited right across the area, sometimes above current coastlines, sometimes below them, close inshore and well offshore too.

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Federal acreage onshore and offshore holds more than 2, 000 trillion cubic feet of natural gas (about 75 years worth of current domestic consumption) and 229 billion barrels of oil (about 50 years worth).

FORBES: Study: Fed Lands Hold Oil and Gas Bonanza