“Shell’s abrupt decision to cancel its North American GTL project just 10 weeks after concluding a multi-year site-selection process is obviously very disappointing news,” LED Secretary Stephen Moret tells Daily Report.
A majority of the blocks in Proposed Sale 225 are subject to revenue sharing under the Domenici-Landrieu Gulf of Mexico Energy Security Act, which provides that the states of Alabama, Mississippi, Louisiana and Texas share in 37.5 percent of the bonus payments.
A three-judge panel of the 5th U.S. Circuit Court of Appeals ruled Monday that a judge must reconsider BP PLC’s arguments that the settlement shouldn’t compensate businesses if their losses can’t be directly traced to the nation’s worst offshore oil spill.
The man with the Midas Touch may have to pull a rabbit out of his hat this time.