Senate sends House's offshore drilling bill back in attempt at a compromise
|The Senate pushed for a more restrictive form of the House's bill in the name of eco-conservation|
The Senate's bill would open 8 million acres of land for drilling and goes a step further in revenue sharing. The House's bill would have given the states 50-75% of the royalties, and the Senate's bill proposes 37.5% to the states, 12.5% into a "conservation fund" (yippee), and 50% to the federal government.
It's not as good as the House bill, but it might be passable. And as long as they've left themselves the room to grow that area later, we may have to take it. It's the best way to avoid dependence on OPEC's oil.
The next step is going to be turning to nuclear power...