U.S. Gulf of Mexico states get $215M in offshore oil money
U.S. Gulf of Mexico oil-producing states Alabama, Texas, Mississippi, and Louisiana will receive $215 million in 2018 offshore energy revenues, disbursed by the Department of the Interior.
Under the Gulf of Mexico Energy Security Act of 2006, Alabama, Louisiana, Mississippi, and Texas receive a portion of the revenue generated from oil and gas production offshore in the Gulf of Mexico.
In a statement on Thursday, the DOI said the $215 million amount – the second disbursement under Phase II of (GOMESA) – was an increase of 14.3 percent over the prior year.
The funds, to be disbursed to the states and their respective coastal political subdivisions, are intended to be used for coastal conservation and restoration projects, hurricane protection programs, and activities to implement marine, coastal, or conservation management plans.
The recently appointed DOI Secretary, David Bernhardt, said: “These disbursements shared directly with the Gulf producing states and local communities are a direct result of the responsible development of our energy resources.”
Louisiana will receive in total $94,728,191.78, Texas $57,891,839.04, Mississippi $31,723,855.95, and Alabama $30,595,109.50.
“This year, Louisiana will receive more than $94 million in GOMESA funding. This is a big win for our state and a result of continued efforts here in Congress to ensure Louisiana receives the greatest share possible from offshore revenues. The robust oil and gas industry in our state is key to America’s economy and energy independence, and I will continue to do all I can to protect Louisiana’s interests,” said Congressman Mike Johnson (LA-04).
“Energy-producing states along the Gulf Coast have waited a long time to start getting a fair share of offshore energy revenues, especially in Louisiana – where the Gulf has eroded over 2,000 square miles of our coast,” said Congressman Garret Graves (LA-06). “Every single penny of this funding will be invested in urgent coastal restoration and hurricane protection efforts to protect Louisiana lives, communities, culture and a nationally-important economic engine responsible for 80 to 90 percent of all offshore energy production in federal waters in the United States.”
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