Market intelligence, trend analysis and forecasts for the Oil and Gas industries across the regions

Political Risk / United States

News In Brief: Virginia Signs Offshore Drilling Bills

March 2010 | Industry Brief

The Republican governor of the state of Virginia, Bob McDonnell, signed legislation on March 10 that would direct future royalties from offshore oil and gas production to transport and renewable energy research in the state. While the legislation is symbolic at present, as drilling in federal offshore waters off the east coast will not be permitted until a 2011 lease sale at the earliest, the move underlies how eager Virginian lawmakers are to open up the state's offshore waters to oil and gas exploration.

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