It called Domestic Energy Production through Offshore Exploration and Equitable Treatment of State Holdings Act of 2006 (H.R. 4761) and Jindal has lined up lots of support including 110 cosponsors. It would phase in 50% revenue sharing of the royalties from drilling in the OCS up to 100 miles off the shore of a state. After a month of signalling possible support, the Administration has come out AGAINST the bill because of the cost.

In an interesting development many environment interests oppose the bill because it would encourage states currently opposed to drilling off their shores to begin. Florida, South Carolina and California could become major energy producers.

Sharing in the OCS oil money has looked like a dead cause for 30 years but Bobby is trying to pull it off. If he does the people of New Orleans owe him big.

As of October 5 the House passed  4761 and the Senate passed their version. A conference committee was unable to reach a compromise and Congress adjourned until after the November elections. The lame duck Congress is not expected to act, so we are faced with waiting until January for meaningful action.

In the State Election at the end of September a Consititutional Amendment passed overwhelmingly dedicating any proceeds from OCS Revenue Sharing to Wetlands Restoration. This was intended to reassure the citizenry and Washington that the money would not be diverted to the general fund.