Friday, June 30, 2006

House Passes Bill To Lift Ban On Offshore Oil Drilling

The U.S. House of Representatives approved legislation (H.R. 4761) on June 29, 2006 sponsored by Congressman Bobby Jindal that lifts a 25-year ban on oil and natural gas drilling off most of the Pacific and Atlantic coasts and the eastern part of the Gulf of Mexico. The legislation passed by a vote of 232-187 and offers states billions of dollars in federal revenues if they allow drilling off their coasts.

President Bush opposes the legislation because he believes it would increase the national debt by diverting $70 billion from the federal treasury over the next 15 years. Although the White House supports the overall goal of the legislation, it opposes the revenue sharing outlined in the bill, which would apply to both new and existing leases.

The legislation specifically removes all leasing bans beyond 100 miles and permits leasing 50 to 100 miles offshore unless states protest. Each state would have the opportunity to opt out of drilling off their respective coasts. It bans all oil and gas drilling within 50 miles of state coasts unless states chose otherwise. Most states currently have jurisdiction that extends only about three miles from their coasts - Texas and the Gulf coast of Florida control more than nine miles.

1 comment:

thanh nguyen said...

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