Marine and Coastal Environment and Global Climate Protection Act of 1992

Marine and Coastal Environment and Global Climate Protection Act of 1992 - Title I: Ocean and Coastal Resources Management and Development Block Grants - Ocean and Coastal Resources Management and Development Block Grant Act - Establishes the Ocean and Coastal Resources Management and Development Fund.

Directs the Secretary of Commerce (the Secretary) to provide to each State from amounts paid into such Fund a national ocean and coastal resources management and development block grant to ameliorate any adverse impacts resulting from activities of coastal-related energy facilities.

Prescribes eligibility and implementation guidelines. Precludes a block grant from being paid to a State unless it has established a trust fund to receive it. Prescribes procedural guidelines under which recipient States must allocate their respective block grants among local governments. Requires a recipient State to submit to the Secretary a financial audit of its block grant trust fund for each fiscal year in which it receives such grant. Sets forth procedural guidelines for the withholding of a State's future block grant if the Secretary determines that block grant funds have been misused. Directs the Secretary to promulgate regulations to implement this Act.

Title II: Global Climate Change Response Fund - Directs the Secretary of the Treasury to establish the Global Climate Change Response Fund. Requires the Secretary of the Interior to deposit into the Fund ten percent of all royalties received (after enactment of this Act) under the Outer Continental Shelf Lands Act. Terminates authority to make such contributions on October 1, 2003. Mandates that Fund monies be used by the President to make annual contributions to any agreed-upon financial mechanism provided for in the Framework Convention on Climate Change.

Title III: Revisions to the Outer Continental Shelf Program - Prohibits oil and gas lease sales in certain Outer Continental Shelf planning areas unless the Secretary of the Interior determines that: (1) adequate scientific and technical information is available regarding specified aspects of such planning areas; and (2) development of such areas is needed to meet domestic economic energy needs.

Declares moratoria on preleasing activities and lease sales, and imposes restrictions and requirements upon: (1) the Mid-Atlantic Planning Area; (2) the South Atlantic Planning Area; (3) the Straits of Florida Planning Area; (4) the Eastern Gulf of Mexico Planning Area; (5) Southern California, Central California, and Northern California Planning Areas; (6) Washington-Oregon Planning Area; and (7) North Aleutian Basin Planning Area.

Provides for exceptions to such proscribed lease sales upon request of the affected State (unless the Governor of another affected State objects to such leasing).

Title IV: Environmental Studies Program - Amends the Outer Continental Shelf Lands Act to require the Secretary of the Interior to include within a statutorily mandated environmental assessment study of the Outer Continental Shelf and coastal areas affected by its oil and gas development, an assessment of the adequacy of available physical oceanographic, ecological and socioeconomic information.

Mandates completion of such study, subject to peer review by at least three qualified scientists at least two of whom shall not be employed by the Federal Government, and publication, not later than 180 days before the date on which the lease sale is held.

Authorizes appropriations.

Title V: Miscellaneous - Makes conforming amendments to the Outer Continental Shelf Lands Act regarding lease cancellations to reflect the changes made by this Act. Directs the Secretary of the Interior to promulgate lease cancellation regulations which state that compensation for lease cancellation may be made in the form of cash, or credit against rent or royalty payments that would otherwise be paid to the Federal Government, or a combination of cash with such credit.