Drilling bill passes Senate, heads to President [UPDATE]
Dec 11, 2006 | 06:37 AM
| Rory Carroll
Steel and other manufacturing associations are celebrating the passage of a bill over the weekend that will allow for increased exploration for oil and natural gas in the Gulf of Mexico.
The language lifting the moratorium on offshore drilling was part of a large tax and trade bill that the Senate passed early Saturday morning. The vote brought to a close the 109th Congress.
The new legislation opens up 8.3 million acres of virgin territory 125 miles offshore and diverts more than a third of federal drilling royalties to Louisiana, Alabama, Texas and Mississippi. The money is slated for wetlands restoration and post-hurricane repair.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here