Deep Ocean Energy Resources Act
Summary of Major Provisions
Introduced on February 15, 2006, by Representative Bobby Jindal (LA-R), H.R. 4761, the Deep Ocean Energy Resources Act of 2006, would amend the Outer Continental Shelf Lands Act to allow the Secretary of the Interior to establish regulations for natural gas only leases in the Outer Continental Shelf (OCS). The value of the leases for bidding purposes would exclude the value of any potential crude oil. However, oil could be produced if the adjacent State government did not object. Phased-in revenue-sharing plans for the adjacent States would be established for tracts within 200 miles of their coastlines and for tracts…
