A Peek at the Dems' New Oil Drilling BillSeptember 11, 2008 - by Donny Shaw
>Democrats circulated an outline of energy legislation on Wednesday that would go much further on offshore drilling than many anticipated, giving Speaker Nancy Pelosi (D-Calif.) the chance to put her political adversaries in a tight spot on the biggest issue of this campaign season.
>According to the outline, the legislation would end a moratorium first established in 1981, allowing states to decide whether to lease drilling sites 50 miles off of their coastline. The bill would also open all federally protected water 100 miles from shore.
>The rub, Republicans argue, is that the legislation would not include revenue sharing for the states, removing a major incentive for residents and local politicians to open their coastal zones for underwater oil and gas exploration.