Senate OKs expanded offshore drilling in Gulf
Dec 11, 2006 | 03:55 AM
| Rory Carroll
Steel and manufacturing groups are celebrating the passage of a bill that will allow for increased exploration for oil and natural gas in the Gulf of Mexico.
The language to end the moratorium on offshore drilling was inserted into a big tax and trade bill that the Senate passed early Saturday morning. The vote brought to a close the 109th Congress.
The legislation, which President Bush is expected to sign, opens up 8.3 million acres of virgin territory 125 miles offshore and diverts more than a third of federal drilling royalties to Alabama, Louisiana, Mississippi and Texas for wetlands restoration and post-hurricane repair.....
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