U.S. Senate Debates Drilling for Dollars in Gulf of Mexico
There’s legislation being debated in the U.S. Senate on whether to allow more oil drilling in the Gulf of Mexico. It's not just the oil--but the oil revenues coming in that's a big part of this. The benefit for nearby states is the chance of collecting federal royalties – as much as $650 million for each state.
Some of that money could be used toward rebuilding costs from Hurricane Katrina. U.S. Senator Mary Landrieu of Louisiana (D)--was on Power Lunch to explain it all.