Watching Government
Washington briefs

Three recent political developments in Washington, DC, hold potential implications for the oil industry.An unusual compromise between bitter adversaries has saved legislation that would earmark some US federal offshore oil revenues for conservation programs. Although the bill doesn't directly affect oil companies, it may give many inland states a financial incentive to ensure that offshore drilling continues.Rep. Don Young (R-Alas.), House resources committee chairman, and Rep. George Miller (D-Calif.), the ranking Democrat on the panel, struck the deal despite their diametric opposition on almost every issue. The said their compromise on the offshore revenue bill took months to negoti...

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