Money and moratoriums

Patrick Crow Washington, D.C. U.S. congressional committees are expected to mark up bills this summer to earmark federal revenues from Outer Continental Shelf oil and gas production. The legislation would designate 50% or more of OCS revenues, about $2.5 billion/year, for grants to coastal states and to fund nationwide conservation and wildlife programs. The bills wouldn't cost the oil industry a cent. All 34 states bordering oceans or the Great Lakes would share the boon, although there is production off only six. The allocation would be under a formula based on OCS oil and gas output, coastline miles, and population. Sen. Mary Lan...

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