The massive Gulf of Mexico discovery contains an estimated one billion barrels of recoverable oil, the company says. The Interior Department, which regulates offshore drilling, says Exxon's leases have expired and the company hasn't met the requirements for an extension. Exxon has sued to retain the leases.
The court battle is playing out at a time in which the Obama administration has made an issue of unused leases, which deprive the Treasury of valuable taxes. It also comes as regulators are being careful not to be seen as lax in their dealings with large energy companies in the wake of last year's BP PLC spill.
The stakes are high: Under federal law, the leases—and all the oil underneath—could revert to the government if Exxon doesn't win in court.
Rex trying a hex, the henchmen in congress lost money on this one, he still got them in his pocket. The Wichita Falls Klan goes back to the Holt Hotel days when they were the high dollar tricks. They playing with the world with a trick's mentality while living in billionaires heaven at our, the Americans expense, no taxes, helping the Reds get back on their feet, sending the Russian Mafia's Putin checks on oil/gas produced on our homeland. 
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