Mississippi Senate sends offshore drilling bill to governor to sign - April 25, 2004

Providing coverage of Alaska and northern Canada's oil and gas industryApril 2004

Vol. 9, No. 17

Week of April 25, 2004

Mississippi Senate sends offshore drilling bill to governor to sign

The Associated Press

The Mississippi Senate has sent to the governor a bill to permit offshore drilling in Mississippi waters.

On April 19, senators agreed to House changes to the bill, giving it final legislative approval. The legislation strips oil and gas lease authority from the Department of Environmental Quality and gives it to the Mississippi Development Authority, a move supported by the oil and gas industry.

About three-quarters of the tax and lease proceeds from drilling would go to the state education trust fund and the remainder to local county governments. Predictions have been that the state has reserves that could bring in $1 billion or more to state coffers over a couple of decades or so.

Petroleum News - Phone: 1-907 522-9469 - Fax: 1-907 522-9583
[email protected] --- http://www.petroleumnews.com ---
S U B S C R I B E

Copyright Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA)©2013 All rights reserved. The content of this article and web site may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law subject to criminal and civil penalties.