House committee approves OCS leasing reform bill

Two days after it combined the two main offshore oil and gas leasing bills it had received, the US House Resources Committee passed HR 4761 by a 29-9 vote on June 21.The bill, formally designated the Deep Ocean Energy Resources Act, now heads to the House floor. Opponents are likely to criticize its provisions that give coastal states a share of federal oil and gas revenues from the Outer Continental Shelf and provide those states the option of withdrawing from or modifying moratoria.The revenue-sharing provisions were in an earlier measure developed by Reps. Bobby Jindal (R-La.) and Charlie Melancon (D-La.). The provisions to let coastal states opt out of offshore leasing moratoria were ...

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