Senate Dems Decry Offshore Drilling Revenue Split

Law360, New York (April 20, 2010, 12:55 PM EDT) -- Sens. Jeff Bingaman, D-N.M.; Jay Rockefeller, D-W.Va.; and Byron Dorgan, D-N.D., have signaled strong opposition to proposals that would share drilling revenue from newly opened offshore areas with a small group of U.S. coastal states, saying any profits should be spread equally across the country.

Not only would proposals to share profits from federal leases on the Outer Continental Shelf among a handful of coastal states be unfair to other states, it would deprive the U.S. Department of the Treasury of a substantial source of annual...
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