Senate Reaches Deal on Offshore Drilling

Thursday, July 13, 2006
Senators who want to open new areas of the Gulf of Mexico to oil and gas production heralded came to a compromise. The agreement was supported by a key Florida senator, Republican Mel Martinez, who previously had vowed to block anything he perceived as a threat to the state's multimillion-dollar beach-related tourism industry. The deal, promoted by Senate Majority Leader Bill Frist, R-Tenn., and several Gulf Coast lawmakers, would open an 8 million-acre segment of the eastern Gulf of Mexico to production while barring drilling within 125 miles of the Florida coastline.

Drilling proponents say the new area that would be open to production contains more than 1 billion barrels of oil and more than 5 million cubic feet of natural gas.

The Senate's plan also would give the oil-producing states of Texas, Louisiana, Alabama and Mississippi a share of the royalties generated from the new production.

Martinez promised the agreement would protect Florida's shoreline. Currently, drilling is banned in the waters off Florida and the nation's Atlantic and Pacific coasts. The compromise announced Wednesday would keep that moratorium in place until 2022 in all areas except the western Gulf, which has never been off limits to drilling, and a new area in the eastern Gulf. But Sen. Bill Nelson, D-Fla., said he was worried that the House won't accept the Senate's plan, which is far more modest than a House bill approved last month. The House's bill would allow all coastal states to decide whether to allow oil and gas exploration off their shores and give them a share of royalties from new drilling. Frist said he would try to persuade House Speaker Dennis Hastert, R-Ill., to replace the House bill with the Senate's plan. Source: USA Today

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Port of Houston Expecting Record Year

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

Offshore

DNV GL Targets Safer Approach to Subsea Lifting

The completion of a joint industry project (JIP) to improve existing standards and regulations around subsea lifting operations has resulted in a new recommended practice (RP).

Polarcus Awarded 3D Project Off West Africa

Polarcus Limited has signed a letter of intent with Perenco Oil & Gas Gabon S.A. for a 3D marine seismic acquisition project offshore West Africa.   The project,

Boskalis, VolkerWessels Win Offshore Wind Farm Work

Royal Boskalis Westminster N.V., in partnership with Volker Stevin International (VolkerWessels), has been awarded a contract by Iberdrola Renewables Offshore Deutschland

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.1551 sec (6 req/sec)