Florida House Bill Would Lift Offshore Drilling Ban

H/T www.ocsbbs.com, From EnergyCurrent.com

It’s not what you may think; this proposal covers Florida State waters, within 10 miles of shore. They have structured the deal so that it will cost plenty to be a player. I’m sure they’re still dead-set against drilling in Federal waters, farther offshore, where the state’s share of the revenue pie would be small to non-existent.

Bully for them. But it still reminds me of the joke whose punchline is: “We’ve established that. Now we’re just haggling over price.”

TALLAHASSEE, FLORIDA: Florida would lift its ban on offshore oil drilling under a late-hour proposal that passed its only committee stop Tuesday and is steaming ahead toward final passage in the House.

The Senate, meanwhile, advanced a renewable energy plan, setting up a collision with the House over the future of Florida’s energy policy with less than two weeks left in the legislative session. …

According to oil and gas industry representatives, who arrived in force at Tuesday’s hearing, the proposal is worth $31 billion to the state in 20 years of royalties.

Companies would pay the state $1 million to apply for a drilling lease, then have to pay royalties to the state on oil and gas extracted from beneath Florida’s waters. Per the proposal, companies could apply to erect oil rigs as close as three miles to shore.