S. 2922, A bill to repeal certain oil and gas incentives established in the Energy Policy Act of 2005, and for other purposes

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S. 2922 would repeal certain oil and gas incentives established in the Energy Policy Act of 2005.

Detailed Summary

Amends the Energy Policy Act of 2005 to repeal: (1) royalty incentives for natural gas production from ultra-deep and deep wells in the shallow waters of the Gulf of Mexico; and (2) royalty relief for deep water production in the Western and Central Planning Area of the Gulf of Mexico.

Status of the Legislation

Latest Major Action: 4/28/2008: Referred to Senate committee. Status: Read twice and referred to the Committee on Energy and Natural Resources.

Points in Favor

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Points Against

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