Offshore Energy Security Act of 1987

Summary

Offshore Energy Security Act of 1987 - Directs the Secretary of the Interior to: (1) establish a minimum bid of $25 or less per acre for the right to lease lands under the Outer Continental Shelf Lands Act; (2) alter the royalty rate for new and existing leases in order to provide an economic stimulus to production; and (3) offer for lease areas of the Outer Continental Shelf that constitute large economic units. Establishes the National Offshore Vessel Operators Safety Advisory Committee to make recommendations to the Secretary of the department in which the Coast Guard is operating regarding safety aspects of offshore oil, gas, and other mineral operations. Amends the Internal Revenue Code to repeal the windfall profit tax on domestic crude oil.

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1 official file

• Introduced in House

  summary · EN · 12 March 1987

  Open at official source

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