Official U.S. plan for offshore drilling expected on Monday

Some months back, we ran a posting which indicated that the area near Bristol Bay, Alaska may be open for offshore drilling for oil in the near future, and that there were certain groups who were opposed to the plan. Well, if this story interests you, keep your ears open on Monday, because that is when the U.S. Interior Department is expected to detail its official plan for oil and natural gas drilling through 2012. You may remember the Exxon Valdez oil spill disaster; this spill occurred very near to Bristol Bay, which is one reason that the government was not drilling there. In addition, areas off the coast of Virginia and Florida in the Gulf Coast are expected to be added in this plan.

As a side note, were you aware that oil drilling royalties were the second highest source of income for the government, behind only taxes? While not surprising, I didn't know that. There certainly is a lot of money in oil, and this is just another reminder of that truth.

[Source: Yahoo News]

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