Tuesday, October 25, 2005

Florida Drilling Deal Nears

Via peakoil.com, a St. Petersburg Times article about the arrival of a possible new deal allowing oil exploration off the Florida coast.
Several Florida Republicans said the plan goes a long way toward addressing their concerns with earlier versions of the deal: In addition to creating a 125-mile buffer around all of Florida, it would exempt some areas deemed key to military training in the Gulf, and it would allow companies that already hold leases for drilling within 100 miles of shore to trade for leases farther offshore.

It also would repeal the inventory of all offshore oil and gas reserves that was mandated in this summer's energy bill. Most of Florida's delegation had voted against the energy bill because of the inventory, and repealing it would sweeten the deal.