If you enjoy the content at iBankCoin, please follow us on TwitterThe House of Representatives voted to open more of the nation’s oceans for oil and gas exploration on Thursday by a vote of 243 to 179.
The “Reversing President Obama’s Offshore Moratorium Act,” requires the Interior Department to set a production goal of three million barrels of oil per day for its 2012-2017 leasing plan.
In order to reach that target, the legislation requires the department to hold lease sales off the coast of Southern California, in the Arctic Ocean, off Alaska’s Bristol Bay, and in the Atlantic Ocean from Maine to North Carolina.
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