United States Senators have introduced three new bills that may impact offshore drilling:
Senators Byron Dorgan, D.-N.D., and Larry Crais, R-Idaho, have introduced the Security and Fuel Efficiency Energy Act 2007, S. 875. The legislation would allow offshore drilling in the Eastern Gulf of Mexico to as close as 45 miles off the coast of Florida. The bill, currently before the Senate Finance Committee, would also allow an inventory off the coast of Virginia, North and South Carolina and Georgia, which could lead to more offshore drilling there as well.
Senator Mel Martinez of Florida has also introduced S. 876, which would amend the Cuban Liberty and Demoratic Solidarity Act of 1996 by denying a United States visa to any foreign agent or entity who contributes to the development of Cuba’s oil exploration plan. The bill would also impose sanctions on individuals or entities who invest more that one million dollats in the development of Cuba’s oil and gas resources.
Senator Herb Kohl, D.-Wis. has alos introduced the Oil Industry Merger Antitrust Enforcement Act, or S. 878, which will demand evidence from merging oil and gas entities that their transaction will not harm competition.
The text of all three bills may be found at the United States Congress’s website here.