U.S. Senate Votes on OCS Revenue-Sharing Bill

The U.S. Senate today voted 51-47 to close debate on a bill that would have modified and expanded the sharing of federal revenue derived from oil and gas, geothermal, solar, and wind energy developed on federal lands and waters.  The vote fell nine votes short of the 60 needed to end debate and proceed to a vote on the bill itself.

Among other things, the bill would have extended offshore revenue-sharing to states including Alaska and increased the Gulf of Mexico revenue-sharing cap beginning in 2027, before eventually being lifted in 2056 pursuant to existing law.

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