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Poll: Almost half in U.S. creationist
WASHINGTON, July 13 (UPI) -- The U.S. Senate has reached consensus to draft a major offshore oil and gas drilling bill for the Gulf of Mexico to boost domestic production.
The agreement, from which a bill will be drafted, would distribute federal revenue to states along the Gulf of Mexico and provide a 125-mile buffer for Florida's coast, The Hill newspaper reported Thursday.
Under the deal, 37.5 percent of revenue from new federal oil and gas drilling leases in the gulf would be distributed to coastal states and 12.5 percent would go to the Land and Water Conservation Fund.
Late last month, the House passed a gulf oil and gas revenue-sharing bill that would give Florida a 100-mile boundary and perhaps less in later years, the report said.
Senate Majority Leader Bill Frist, R-Tenn., said he believes the bill can be drafted and debated before the August recess, after which it would go to a conference committee.
"This agreement will help make America more energy independent and will help ease the burden on hardworking families who are feeling the pinch of high energy prices," Frist said.
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