EU Panel Votes To Raise Bar For Oil, Gas Drilling Permits

Law360, New York (October 9, 2012, 6:17 PM EDT) -- Looking to avoid a Deepwater Horizon-type disaster, the European Parliament's Energy Committee approved a draft law Tuesday that would force offshore oil and gas companies to submit major hazard reports and emergency response plans before getting a license to drill.

Under the law, licenses would be granted only if the company could prove it has enough cash to remedy any environmental damage caused.

The law, which would replace the European Union member states' current patchwork of laws and practices governing offshore drilling activities, will now be...
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