New Gas Reserves Could Be Tapped Under Proposed Rules
New Orleans City Business › April 25, 2005
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Summary
A proposed Senate bill giving states the right to opt out of the federal moratorium on new offshore drilling could increase natural gas production in the Gulf of Mexico by 20 percent or more. Opponents consider the bill part of a stealthy strategy of bribing cash-strapped states to overturn a 23-year ban on new offshore drilling along much of the country's coastline.
The bill, introduced by Sens. Lamar Alexander, R-Tenn., and Tim Johnson, D-S.D., will provide the U.S. Department of the Interior with the authority to issue natural gas only leases. The measure is specifically meant to open Lease 181 to drilling in the Gulf, a 1.5- million acre rectangular tract south of the Florida Panhandle in the eastern Gulf.See the full content of this document
Extract
New Gas Reserves Could Be Tapped Under Proposed Rules
Alexander and Johnson are members of the Senate Energy Committee along with Sen. Mary Landrieu, D-New Orleans.
High natural gas prices are threatening our ...See the full content of this document
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