EU Lawmakers Adopt New Offshore Drilling Rules

Law360, New York (May 22, 2013, 3:23 PM EDT) -- In what they believe will help avoid a Deepwater Horizon-type disaster, European lawmakers on Tuesday approved offshore drilling regulations that would require producers to prove they have sufficient financial muscle to cover potential accidents and any resulting cleanup and liability before obtaining a drilling license.

The legislation formally approved by the European Parliament would also expand the coastal area over which the European Union has enforcement authority by more than 200 miles. The European Council must still sign off on the legislation, but that should be...
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