U.S. House Panel Approves Measure to Expand Offshore Drilling

A U.S. House of Representatives committee voted 23 to 18 to approve a measure that would expand oil drilling in federal waters in the Atlantic and Pacific oceans.

The measure from the Republican-controlled Natural Resources Committee would call for a boost in production off of California using existing platforms, and leases for drilling off of Virginia and South Carolina. The bill would also establish in legislation the changes to the Department of Interior’s leasing and oversight of oil drilling that were made following the 2010 Deepwater Horizon oil spill.

Before it's here, it's on the Bloomberg Terminal.