oil and gas revenue sharing

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.