Oil Drillers Sit on Hands at Auction for Leases

http://rss.nytimes.com/c/34625/f/640350/s/4920d8a1/sc/31/l/0L0Snytimes0N0C20A150C0A80C20A0Cbusiness0Coil0Edrillers0Esit0Eon0Ehands0Eat0Eauction0Efor0Eleases0Bhtml0Dpartner0Frss0Gemc0Frss/story01.htm

The low turnout was the clearest sign yet that the fortunes of oil companies are skidding so fast that they now must reduce plans for production well into the future.

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