The oil and natural gas industry clinched a crucial victory Tuesday when the Senate by a wide margin passed legislation that paves the way for future leasing in the eastern Gulf of Mexico. However, the legislative battle is far from over. The Senate and House are now tasked with the responsibility of reconciling two vastly different offshore leasing bills — a feat some believe will test the mettle of even the best Capitol Hill negotiators.
Margin
Articles from Margin
NGI The Weekly Gas Market Report
House Passes Broad OCS Leasing, Revenue-Sharing Bill
In a major victory for the oil and natural gas industry, the House last Thursday approved by a wide margin comprehensive legislation that would open historically closed portions of the federal Outer Continental Shelf (OCS) to energy leasing and would pave the way for greater sharing of offshore royalties with states.
House Passes Broad OCS, Revenue-Sharing Legislation
In a major victory for the oil and natural gas industry, the House Thursday approved by a wide margin comprehensive legislation that would open historically closed portions of the federal Outer Continental Shelf (OCS) to energy leasing and would pave the way for greater sharing of offshore royalties with states.
Broad OCS Bill Gets House Panel’s Nod, Goes to Floor
The House Resources Committee Wednesday voted out by a wide margin amended legislation that seeks to open currently closed portions of the Outer Continental Shelf (OCS) to oil and natural gas drilling and increase coastal states’ share of revenues from offshore production.
House Narrowly Rejects Proposal to Open OCS to Expanded Gas Drilling
The House late Thursday inflicted a blow on the energy industry by rejecting by a narrow margin efforts to open up much of the federal Outer Continental Shelf (OCS) to natural gas exploration and production. Some industry advocates were seeing the gain in support as evidenced by the close vote as progress towards an eventual win.
House Panel Votes to Repeal Congressional OCS Moratorium
In a significant victory for the energy industry Wednesday, the House Appropriations Committee approved by a wide margin an amendment to repeal the 25-year congressional moratorium to allow for expanded natural gas exploration and production off the Atlantic and Pacific coasts, as well as in the eastern Gulf of Mexico..
Nymex Decreases Margins on Natural Gas Contracts
The New York Mercantile Exchange Inc. (Nymex) announced margin decreases for its natural gas, Nymex miNY natural gas, Henry Hub swing swap, Henry Hub swap, and Henry Hub penultimate swap futures contracts, as of the close of business Thursday.
Senate Votes to Shift $1B in LIHEAP Funds from 2007 to Current Year
Northeast senators by a two-to-one margin Thursday overcame a procedural budget hurdle that allows for $1 billion in funds that were to be allocated to aid low-income energy customers in fiscal year 2007 to be transferred to the current fiscal year.
House Approves Modest Hike in LIHEAP Spending
The Republican-led House on Wednesday passed by a slim margin a negotiated massive spending bill that only slightly raises funding for the Low-Income Home Energy Assistance Program (LIHEAP) in fiscal year 2006.
House Panel OKs ANWR, Expanded OCS Development; Senate Panel Approves ANWR
The House Resources Committee on Wednesday voted out by a 3-to-2 margin legislation that would permit interested coastal states to opt out of existing moratoriums on oil and natural gas drilling on the federal Outer Continental Shelf (OCS) and would authorize drilling in the northern coastal region of Alaska’s Arctic National Wildlife Refuge (ANWR).