Earlier this week BP announced a major oil discovery in the Gulf of Mexico, at its Tiber Prospect, which is located about 250 miles southeast of Houston. Analysts say that the resource size could contain as much as 3 billion barrels, reports the Bureau of National Affairs.
The news source adds that BP’s oil find would “provide another argument for lawmakers who want to expand offshore drilling as part of energy legislation” that Congress may consider this fall.
Energy legislation that passed the Senate Energy and Natural Resources Committee (S. 1462) in June would repeal remaining restrictions on eastern Gulf oil and gulf exploration within 45 miles of Florida’s coastline, writes BNA. U.S. Sen. Bill Nelson (D-FL) threatened to filibuster the bill if the off shore provision is not dropped from the bill. However, state lawmakers in Florida may take up the issue of offshore oil drilling this fall during a special session, according to The Tampa Tribune.
S. 1462, as passed by the Senate committee, will likely “be folded” into climate change legislation when the Senate considers the House-passed bill (H.R. 2454), which as of now does not contain an offshore drilling provision and has been delayed for consideration.
BNA notes that six Senate committees have jurisdiction over the Senate climate bill: Finance; Agriculture, Nutrition, and Forestry; Commerce, Science, and Transportation; Energy and Natural Resources; Environment and Public Works; and Foreign Relations.
Additional resources: NACS position on energy and climate change legislation