Update on the Deep Ocean Energy Resource Act

Washington, DC [RenewableEnergyAccess.com] Ocean Renewable Energy Coalition (OREC) reports progress on the DOER (Deep Ocean Energy Resource) Act since June 29. The House Bill includes $20 million per year for fiscal year ’07 through FY ’11 in direct grants to ocean renewable projects thanks to the Inslee Amendment. The Senate also adopted its own version of the bill, which does not include funds for ocean renewables. When Congress reconvenes in September, the House and Senate both have bills that will increase drilling for oil and gas on the Outer Continental Shelf. OREC believes that if the United States needs to pump more oil and gas, some of the proceeds should be reinvested into sustainable alternative energy from clean ocean renewable resources. OREC hopes to have $20 million/year for ocean renewables.
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