To achieve greater national energy independence by terminating longstanding moratoriums on the domestic production of offshore oil and natural gas and to authorize States to petition for authorization to conduct offshore oil and natural gas exploration and extraction in the coastal zone of their State.
Developing Resources Immediately and Long-Term through Leases on Our Nation's Offshore Waters Act of 2008, or DRILL NOW Act of 2008 - Declares without force or effect all existing federal law which prohibits spending appropriated funds to conduct oil and natural gas leasing and preleasing on the outer Continental Shelf.
Revokes: (1) all withdrawals from leasing on federal submerged lands of the outer Continental Shelf (including withdrawals by the President); and (2) Presidential authorities with respect to such leasing (except in the interest of national security).
Amends of the Outer Continental Shelf Lands Act to authorize a state governor to petition the Secretary of the Interior to issue leases for oil and natural gas exploration and extraction activities in any area that is at least 50 miles beyond the state's coastal zone.
Cites circumstances under which the Secretary shall approve or deny the petition.
Instructs the Secretary of the Treasury to deposit revenues from leasing operations into designated funds and accounts.
Provides that any funds that would be received by the United States as royalties under any existing federal oil and gas lease on the outer Continental Shelf that lies within 50 miles of the coastal zone of the states of Texas, Louisiana, Mississippi, or Alabama shall be paid to that state if it enacts an expenditure plan for those funds.
Introduced in House
Introduced in House
Referred to the House Committee on Natural Resources.
Referred to the Subcommittee on Energy and Mineral Resources.
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