Wednesday, July 14, 2010

House Panel Votes to Keep BP From Obtaining Offshore Leases

By Siobhan Hughes



"WASHINGTON (Dow Jones) -- A House panel on Wednesday voted to ban BP PLC (BP, BP.LN) from obtaining new offshore leases or drilling permits for as many as seven years if the company winds up paying substantial civil penalties and criminal fines in connection with a prolonged oil spill in the Gulf of Mexico.

The amendment, offered by Rep. George Miller (D, Calif.), was approved by voice vote in the U.S. House Natural Resources Committee. The panel voted to add the measure to a bill that responds to the Gulf spill by dividing responsibility for drilling oversight among three new agencies." More>>>>

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