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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Norsafe Secures Contract with VARD Group

Norsafe informs it has signed a new contract with VARD Group, and will supply lifeboats complete with davit systems to a series of 15 new vessels.    Topaz Energy

India’s Potential in Offshore Wind Power

The Global Wind Energy Council (GWEC) launched a new report: “Supply Chain, Port Infrastructure and Logistics Study” for offshore wind development in the states of Gujarat and Tamil Nadu in India.

Lloyd's Register Extends Drilling Rig Integrity Support

Exploration begins by BHP Billiton using the Deepwater Invictus rig and supported by Lloyd’s Register’s rig integrity team. Lloyd’s Register (LR) announced it

Container Ships

Xeneta: No Silver Lining for Container Shipping in Brexit Storm

Xeneta, a  global benchmarking and market intelligence platform for containerized ocean freight, believes that the UK’s decision to leave the European Union will

SOLAS Container Mass Verification Rule Enter into force

A new regulation requiring the gross mass of a container to be verified before it is loaded onto a ship enters into force today (1 July 2016). It will assist in

UASC Shareholding States Vote to Back Hapag-Lloyd Merger

United Arab Shipping Company (UASC) said its six shareholding states backed a merger deal with German container shipping line Hapag-Lloyd AG at a meeting on Wednesday.

 
 
Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | 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: 0.0750 sec (13 req/sec)