The budget again floats new fees for the oil and gas industry to pay for the processing of permits and would impose fees on leased parcels where no production is occurring. Officials say the fees would save an estimated $250 million a year and expedite drilling on public lands, but the ideas have made little headway in Congress.The budget includes $240 million for the agency that oversees offshore drilling, a 10 percent increase over current spending. Officials say the increase would enable the Bureau of Safety and Environmental Enforcement to improve its response to oil spills, allow for more safety inspections and improve investigations and enforcement.
An Agency-by-agency Guide To Obama's 2014 Budget
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts