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...