oil and gas revenue sharing

Beardo62 / Flickr (CC BY-SA 2.0)

A bill that could increase the amount of royalty money Louisiana gets from offshore oil and gas drilling advanced in the U.S. Senate on Tuesday.

The bill, called the Conservation of America’s Shoreline Terrain and Aquatic Life Act, or COASTAL Act, is sponsored by Sen. Bill Cassidy (R-La). It would reduce how much oil and gas money goes to the federal government, and increase the amount that goes to states along the Gulf of Mexico -- Texas, Louisiana, Mississippi, and Alabama.

Bureau of Ocean Energy Management (BOEM)

This week on the Coastal News Roundup: the state gets a big chunk of money for coastal restoration, but not as much as it hoped for. Plus, details on an upcoming project restoration project on the Lake Pontchartrain levee in Jefferson Parish.

WWNO’s Travis Lux talks about the week in coastal news with Mark Schleifstein, environmental reporter at Nola.com/The Times-Picayune.

Beardo62 / Flickr/CC BY-SA 2.0

The Louisiana oil and gas industry in Louisiana is asking President Trump not to take coastal restoration money away from the state.

 

The funding issue at hand is the Gulf of Mexico Energy Security Act (GOMESA).

 

Oil and gas companies have to pay for leases if they want to drill in the Gulf of Mexico. The federal government makes money from those leases. GOMESA is a law that requires the government share some of that money with the states on the gulf coast -- including Louisiana.

Office of Senator Mary Landrieu

Louisiana Democratic Senator Mary Landrieu is calling on the Obama administration’s nominee for Interior Secretary to support a bigger share of oil and gas revenue to coastal states.

At a hearing of the Senate Energy and Natural Resources Committee, Landrieu told nominee Sally Jewell that offshore drilling along the Gulf Coast accounts for three times the production onshore in western and interior states.