There is one summary for this bill. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (09/27/2008)

Drill Now Act of 2008 - Amends the Department of the Interior, Environment, and Related Agencies Appropriations Act, 2008 to repeal its prohibitions against oil and natural gas preleasing and leasing activities in specified offshore areas, including the North Atlantic, the eastern Gulf of Mexico, and the Mid-Atlantic and South Atlantic planning areas.

Declares that the United States reserves the right to designate national defense areas on the outer Continental Shelf (OCS).

Authorizes the Secretary of the Interior (Secretary) to conduct leasing, preleasing, and related activities for any opened area before June 30, 2012.

Requires any lease issued by the Secretary for submerged land of the OCS in any opened area lying within 25 miles of the coastline of any state to include a prohibition against permanent surface occupancy.

Instructs the Secretary of the Treasury to deposit revenues from tracts leased under this Act into: (1) the general fund of the Treasury; and (2) a special account in the Treasury, for allocation among the states in accordance with prescribed guidelines.

Repeals the prohibition against the use of funds to prepare or publish final regulations regarding a commercial leasing program for oil shale resources on public lands or to conduct an oil shale lease sale.