Rep. Young Celebrates Offshore Energy Act

Congressman Don Young today celebrated the House passage of the  Offshore Energy and Jobs Act, which he says will open new offshore areas to exploration.

 

The Act requires the Obama Administration to create a new five year leasing plan for the United States’ offshore energy resources in areas containing the most oil and gas potential.

 
Rep. Young said the bill also includes an offshore revenue sharing percentage for Alaska of 37.5 percent. According to his office, the revenue generated through offshore development could be worth “billions of dollars to the State treasury.”

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