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U.S. Senate Debates Drilling for Dollars in Gulf of Mexico

Tom Brennan
Monday, 27 Nov 2006 | 1:19 PM ET

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.

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