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Senators introduce OCS revenue-sharing bill

08/03/2009
By Nick Snow
US Sens. Mary L. Landrieu (D-La.) and Lisa Murkowski (R-Alas.) introduced legislation on July 27 that would guarantee coastal states a 37.5% share of federal revenue from new oil and gas production off their shores.“This long overdue legislation would recognize contributions of host states, while [providing incentives for] them to undertake new and responsible offshore development,” said Landrieu, who has introduced similar bills for several years. “Coastal communities should not shoulder the risks and responsibilities of OCS production without reaping some of the rewards. This bipartisan bill would finally change the inequitable regime that sends 100% of revenue to fede...
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