Here is a piece of legislation you may be interested in.
The purpose is
"to greatly enhance the Nation's path toward energy independence and environmental, energy, economic, and national security, by amending Federal policy to increase the production of domestic energy sources..."
The bill seems to do a couple things.
1) It removes the off shore oil and gas drilling and forces the oil/gas produced to stay in the US (per the Outer Continental Shelf Lands Act of 1953).
2) It takes royalties from this oil/gas produced, 40% of, and applies them to the development of alternative energy sources.
3) Extends tax credits on purchases of hybrid cars/efforts to make your house or business more green.
Couple thoughts. I didn't see any efforts to include natural gas cars in the included tax breaks. Second, I understand the need to drill off shore, specifically for oil, but why encourage the continued development of off-shore gas when (in the word's of Aubrey McClendon) there are numerous shale basins on the mainland. Shouldn't a policy promote the enrichment of the landowners? This is especially peculiar as the sponsor of the bill is from a state which stands much to gain from shale- PA (Rep. Peterson (R-PA)).
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By no means did I devote enough time to give you an in depth review.
Read for yourself and correct where I am wrong or mention something...
Periodically, I will be highlighting some proposed legislation in Congress. Legislation that may specifically have an impact on us as shale owners. Stay tuned.
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