A lack of interest in a recent federal auction for Nevada acreage is the result of an ongoing, concentrated regulatory effort by the Obama administration to gradually push oil and gas development off federal lands, industry and Republican congressional sources said this week. On Tuesday, the Bureau of Land Management tried to auction off 39 parcels of federal land covering more than 50,000 acres in Nevada for oil and gas development. Not one bid was offered. There were a number of likely reasons for the lack of interest in this oil and gas lease sale, including unattractive economics, unfavorable geography and operational risk. Article continues below… Oilgram News brings you fast-breaking global petroleum and gas news on and including: Industry players, upstream and downstream markets, refineries, midstream transportation and financial reports Supply and demand trends, government actions, exploration and technology Daily futures summary Weekly API statistics, and much more […]