Oil and Gas Leasing / Keystone XL Oil Sands Pipeline Legislation

Republican Senators unveiled on July 26, 2012, legislation to streamline onshore oil and gas drilling permits, hike the amount of revenues from offshore drilling by Gulf of Mexico States, allow drilling off the State of Virginia's coast and approve the Keystone pipeline (Side note: The U.S. Corps of Engineers on July 27, 2012, approved TransCanada's last permit of three for the construction of the southern leg of the pipe, from Cushing, OK to the Texas' Gulf of Mexico coast, a length of 485 miles)