GoM Drilling Bill Clears Senate

Wednesday, August 02, 2006
An attempt to open a new section of the Gulf of Mexico to drilling cleared a major hurdle in the Senate, the Jackson Clarion Ledger reported. The 72-23 vote to end debate on a bill that would allow the first new offshore drilling in years was hailed by the nation's oil and gas industry as well as manufacturers, farmers and other businesses who seek decreases in the price of energy, especially natural gas. Promoted by Senate Energy and Natural Resources Committee Chairman Pete Domenici, R-N.M., the offshore drilling bill would open about 8.3 million acres in the eastern Gulf of Mexico to oil and gas exploration. The area is expected to produce 1.2 billion barrels of oil and enough natural gas to heat and cool 6 million homes for 15 years. Royalties from the new production would be shared between the federal government and four coastal states - Louisiana, Mississippi, Texas and Alabama. But Louisiana would receive the largest share of those new royalties - about $200m a year for the next decade. But environmental groups condemned the Senate action, saying it would end a 25-year-old moratorium on drilling off most of the nation's coastal waters. Some of the bill's opponents are concerned the Senate bill would become much broader during negotiations with the House, which approved an offshore drilling bill sponsored by Rep. Bobby Jindal, R-Metairie, in June. The House bill would end a 25-year-old moratorium on drilling along most of the U.S. coastline by allowing individual states to decide whether to allow gas and oil production off their shores. (Source: Jackson Clarion Ledger)
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Maersk Drilling gets Extension for Jack-Up

Maersk Drilling, is a unit in shipping and oil conglomerate A.P. Moller-Maersk. Hess has exercised the four one-well options included in the current contract for the jack-up rig Maersk Resolute.

Odd Arne Slettebø new CFO of “Noreco”

Norwegian Energy Company ASA has appointed Odd Arne Slettebø as Chief Financial Officer (CFO). Odd Arne Slettebø replaces Tommy Sundt who has been appointed new CEO of the Company.

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

Container Ships

Hamburg Cargo Volumes at Record High

Seaborne cargo throughput of 110 million tons in the first nine months sets new record for Port of Hamburg    With total throughput of around 110 million tons,

Rates Increase Boosts Diana Containerships Q3 Income

Diana Containerships Inc. reported net income of $1.4 million for the third quarter of 2014, compared to a net loss of $0.7 million for the respective period of 2013.

EU Backs Nantes St-Nazaire and Vigo Transport Link

The EU's TEN-T Program will back the upgrade of the existing sea line between Nantes St-Nazaire, France and Vigo, Spain with over €3.5 million to ensure reliable

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1220 sec (8 req/sec)