For the first time in a decade, a U.S. House committee advanced legislation last week that would increase the federal offshore royalties that Louisiana and other oil-and gas-producing states receive, reports NOLA.com.
The revenue-sharing increase that Louisiana has been seeking since 2006 will be part of the bill that is the No. 1 priority for the House this term: The Lower Energy Cost Act, sponsored by House Majority Leader Steve Scalise, R-Jefferson.
The new bill is an amalgamation of a dozen or so energy-related measures that were heard and advanced out of House committees. H.R. 1 will likely receive a vote by the full House by the end of the month. Read the entire story.