Today Congressman Ken Calvert (R-CA) introduced the MORE Act, the Maximize Offshore Resource Exploration, H.R. 903. He first introduced the bill in the 110th Congress.
"Now, more than ever, we need energy independence," said Rep. Calvert. "The price of oil has spiked in recent weeks because of events far from our shores. We must have ways to develop and produce our own fossil fuels while we move towards an economy that is not oil-based. My legislation allows for federally-permitted development of resources beyond 25 miles off the coastline and provides a strong incentive for states to allow federal-lease exploration within 25 miles."
Under the MORE Act, states will receive 75% of the royalties for oil and natural gas production beyond 25 miles of the coastline and the U.S. Treasury would receive the remaining 25%. If states elect to allow exploration and production within 25 miles of their coastline, then their share of the royalties would increase to 90%. At 25 miles from the coast, no evidence of energy exploration is visible from the coast.
The MORE Act will provide:
* MORE offshore domestic energy production;
* MORE royalty revenue for producing states and the U.S. Treasury;
* MORE energy security for America; and
* MORE relief at the gas pump.
The MORE Act will increase oil and natural gas supplies by removing existing restrictions on offshore energy exploration and production in the Outer Continental Shelf (OCS). The bill establishes a state's choice on exploration and production for areas within 25 miles of the coastline.
"My bill respects the sovereignty of the state while providing a financial incentive to states for the development of resources off their coastline," said Rep. Calvert. "For states such as California, this could translate into billions of dollars for schools, law enforcement, transportation infrastructure, and environmental and renewable energy programs. The MORE Act benefits Americans at the gas pumps and rewards states who elect to be part of the solution to the U.S. energy problem."
Original co-sponsors of the bill include: Rep. Gregg Harper (MS-3), Rep. Elton Gallegly (CA-24), Rep. Robert Latta (OH-5), Rep. Billy Long (MO-7), Rep. John Carter (TX-31), Rep. Jerry Lewis (CA-41), Rep. Daniel Lungren (CA-3), Rep. Gary Miller (CA-42), Rep. Bob Gibbs (OH-18), Rep. Devin Dunes (CA-21), Rep. David Dreier (CA-26), Rep. Buck McKeon (CA-25), Rep. Wally Herger (CA-02).