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Senate committee backs more drilling in Gulf

10-Jun-2009

A recent Senate committee vote to allow more drilling in the Gulf of Mexico could lead to divisions among Democratic lawmakers in the coming days.

A recent 13-10 vote by the Energy and Natural Resources Committee approved a bill that will allow drilling leases in areas 45 miles from the coast of Florida as well as in the Destin Dome area, which is thought to contain large reserves of natural gas.

A recent New York Times report quotes two Democratic senators as raising questions about whether they would support a broader energy bill if it contains the current drilling provisions. The newspaper also notes that Florida lawmakers are unhappy with the bill because it overturns a previous compromise that had barred drilling in many areas within 125 miles of the shoreline.

Elsewhere, a Reuters report cites statistics showing that the region in the Gulf that would be open to drilling could contain up to 3.7 billion barrels of oil and 21.5 trillion cubic feet of natural gas.

The vote comes at a time when energy development in U.S. offshore reasons is being reconsidered, especially when it comes to developing new resources such as wind energy.

Breaking news brought to you by the Oxford Princeton Programme, specialists in energy courses. This and other related topics are part of the forthcoming course Overview of Physical Crude Oil Trading and Operations from 10-11 August, 2009 in Calgary, Alberta.
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