A bipartisan group of senators today unveiled a compromise energy plan that would open new areas in the Eastern Gulf of Mexico and Southeast Atlantic to oil and gas drilling, while raising taxes on the major oil companies.

Hoping to break a stalemate that has kept the nation's energy policy in idle even as gasoline prices soared, the self-styled Gang of 10 would allow producers to explore within 50 miles of Florida's Gulf coast.

Source: The Houston Chronicle

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