Offshore Revenue Sharing Legislation Passes U.S. House

MarineLink.com
Tuesday, July 02, 2013

 The U.S. House of Representatives has passed H.R. 2231, the 'Offshore Energy and Jobs Act'.

The legislation would open new offshore areas to exploration by requiring the Obama Administration to create a new five year leasing plan for the United States’ offshore energy resources in areas containing the most oil and gas potential.  Additionally, it would create a fair and equitable offshore revenue sharing program for coastal states like Alaska.

“Once again the House of Representatives continues to lead the way when it comes to increasing domestic energy production.  Today’s legislation would expand American offshore energy development, including more leasing in Alaska’s Beaufort and Chukchi Seas,” Alaskan Rep. Congressman Don Young said.  “This bill would also provide for offshore revenue sharing for Alaska, who like other coastal states outside the Gulf of Mexico, currently receive none.  Alaska would be entitled to 37.5 percent of all revenue generated through offshore development, which could mean billions of dollars into the State treasury.”

He continued: “Last Congress the House passed similar legislation, but like most good pieces of energy legislation beneficial to Alaska, it died in the Democratic controlled Senate.  The bill that passed today received bipartisan support, and did so because it contained provisions such as allowing revenue sharing throughout the country, not just a specific state or region.  I look forward to continuing to work with my colleagues in the House to pass more energy bills that move this great nation toward true energy independence.”
 

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

Legal

NAO Announces Financials, Declares Dividend

Nordic American Offshore Ltd. has declared a dividend of $0.45 per share for 3Q2014, as previously announced. This is the same dividend as for the previous two quarters.

Kirby Corp. Announces Record 3Q Results

Record 2014 third quarter earnings per share of $1.34 compared with $1.21 in the 2013 third quarter, which included a $0.08 benefit due to the reduction of the United earnout liability.

Danny Broad Appointed to ARENA Board

The Chair, Board members and staff of the Australian Renewable Energy Agency (ARENA) are delighted to advise that Danny Broad has been appointed by the Australian Government to the Board of ARENA.

News

Vale CEO: Coal Deal Soon

Brazilian mining company Vale SA is close to making a "strategic" announcement concerning its coal unit, the company's chief executive Murilio Ferreira said on

Braemar Hosts Insurance Experts

Braemar (incorporating The Salvage Association) welcomed an invited group of marine insurance professionals onto its specialist port and shipyard familiarization

NAO Announces Financials, Declares Dividend

Nordic American Offshore Ltd. has declared a dividend of $0.45 per share for 3Q2014, as previously announced. This is the same dividend as for the previous two quarters.

Arctic Operations

500th LNG Cargo Leaves Snøhvit

Snøhvit cargo number 500 was loaded at Melkøya on Mondaym October 27, Statoil said. Since startup in 2007, more than NOK 80 billion worth of LNG has been dispatched from Melkøya.

High Arctic Costs Deter Business Despite Thaw

Despite high hopes for Arctic business from mining to shipping as the ice melts rapidly and temperatures rise twice as fast as the global average, few firms say the sums still make sense.

Canada Should Use Polar Code to Stand on Guard for Communities

Commentary by Paul Crowley For northern communities and economies, the expected growth of Arctic shipping has the potential to bring new jobs and industries,

Offshore Energy

Experimental Floating Wind Farm Nears Installation

Launched in March 2012, the Fukushima experimental offshore floating wind farm project sponsored by the Ministry of Economy, Trade and Industry is nearing the installation

NAO Announces Financials, Declares Dividend

Nordic American Offshore Ltd. has declared a dividend of $0.45 per share for 3Q2014, as previously announced. This is the same dividend as for the previous two quarters.

First Libra Offshore Oil Well Confirms Discovery

Libra consortium reports that drilling the first well in the area extension of Libra, the 3-BRSA-1255-RJS (3-RJS-731), confirmed the discovery of good quality

 
 
Maritime Standards Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Sonar 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: 0.2417 sec (4 req/sec)