DEEPWATER WAIVER WELCOME BUT WEIRD

Energy legislation in the U.S. gets weirder all the time. Out of the election year blue comes a bill from Sen. Bennett Johnston (D-La.) to waive initial royalties for production from the deepwater Outer Continental Shelf. Johnston wants to attach the measure to the omnibus energy legislation now in a House-Senate conference committee. It's a good idea. It deserves the quick support oil companies have given it. As part of the omnibus energy legislation, however, the initiative just looks

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