Santa Barbara Channel Moratorium and Ecological Preserve Act

[AI summary unavailable — showing source text] Santa Barbara Channel Moratorium and Ecological Preserve Act - Provides for a Federal ecological preserve in a portion of the Outer Continental Shelf in the Santa Barbara Channel. Provides for a moratorium on drilling operations pending the ability to control and prevent pollution by oil discharges. Authorizes the Secretary of the Interior to enter into negotiations to pay damages to existing lessees in the area. Establishes the Santa Barbara Channel Account from which payments shall be made in accordance with the provisions of this Act. Provides that these lessees can sue for such damages in the Court of Claims, and directs the court to decide whether such termination to protect other resources of the shelf was an inherent part of the lease and therefore not compensable. Terminates permanently in an orderly and safe manner all drilling operations in the area.…