Today Rep. Calvert (R-CA), author of the MORE Act (H.R. 797) which removes restrictions on offshore leases for oil and natural gas exploration and production for any area of the Outer Continental Shelf (OCS), issued the following statement in response to the President's plan to open a limited fraction of offshore energy resources located in the OCS.
"The President's announcement is a step in the right direction but at a time when America, and California in particular, desperately needs job creation, the plan neglects areas that would have the most impact on employment and energy development. While the plan opens up areas along the east coast and northern Alaska, it does not call for any exploration off the coast of California where ample oil and natural gas resources exist for development. Additionally, exploration off of California would provide the state with much-needed royalty revenue that could go towards bridging the deficit gap and putting California back on the road to fiscal responsibility. With new and emerging technologies, offshore energy development can be pursued with little to no visible impact on the coastline and in a way that protects the surrounding environment. That is why I introduced the MORE Act in 2008 to create jobs and increase coastal states' share of royalties. The time has come to open up all of our country's natural resources which will provide a financial boon to our state coffers; wean our country off foreign dependence on oil; put people back to work and utilize our own resources in an environmentally sound way."
The MORE Act, H.R. 797:
The MORE Act removes restrictions on offshore leases for oil and natural gas exploration and production for any area of the Outer Continental Shelf (OCS). The bill prevents any leases within 25 miles of a state's coastline, unless the state enacts a law approving such leases.
The MORE Act makes significant changes to the distribution of OCS royalties from oil and natural gas leases. For oil and natural gas leases beyond 25 miles of the coastline, the bill distributes 75% of the royalties to the producing states and the remaining 25% to the U.S. Treasury. If states elect to allow exploration and production within 25 miles of their coastline, then their share of the royalties would increase to 90%.