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The U.S. Department of the Interior has announced nearly $249 million in fiscal year 2020 energy revenues to Alabama, Louisiana, Mississippi, Texas, and their coastal political subdivisions CPS.
The U.S. Department of the Interior (DOI) has announced nearly $249 million in fiscal year 2020 energy revenues to Alabama, Louisiana, Mississippi, Texas, and their coastal political subdivisions (CPS).
The state of Alabama and its CPS received $35 million in total, the state of Louisiana and its CPS received $109.9 million in total, the state of Mississippi and its CPS received $36.5 million in total, and the state of Texas and its CPS received $67.3 million in total, the DOI’s website showed. A total figure of $248.9 million was disbursed by the DOI.
Louisiana state government and 19 coastal parishes will receive almost $110 million in the current federal fiscal year to spend on coastal restoration and hurricane protection, the Interior Department announced Tuesday in disbursing money from oil and gas production in the Gulf of Mexico.
Energy revenue from federal waters in the Gulf is shared with Louisiana, Texas, Mississippi and Alabama each year under the federal Gulf of Mexico Energy Security Act, or GOMESA. Florida gets nothing because no drilling occurs in federal waters off that state s borders.
The money distributed for fiscal 2020 totals $248.9 million, a reduction of $104.1 million, or 29.5%, from 2019. The reduction is tied largely to the drop in demand for oil and gas as a result of the COVID-19 pandemic. Louisiana s 2020 share is $45.8 million less than the previous year.
Louisiana to get $110 million in oil revenue this year to help restore coast
Louisiana and its coastal parishes will receive about $110 million in federal offshore oil revenue this year to restore wetlands and protect communities against hurricanes, officials said.
The annual allocation comes through the Gulf of Mexico Energy Security Act, a 2006 law that increased the amount of federal oil money Louisiana and other states receive from drilling off their coasts.
GOMESA, as it’s called, is a significant source of money for Louisiana’s $50 billion, 50-year coastal master plan, which includes several projects in Terrebonne and Lafourche parishes. The collection of river diversions, wetlands rebuilding, levee work and other projects aim to deal with coastal erosion, rising seas, sinking land and hurricanes.
BIC Magazine
April 1, 2021
U.S. Congressmen Garret Graves and Steve Scalise announced that Louisiana will receive aÂ
$109,948,761 share of nearly $249 million in the FY 2020 Gulf of Mexico Energy Security Act (GOMESA) energy revenues that the four Gulf oil and gas producing states will receive. Of the revenues, the State of Louisiana will receiveÂ
$87,959,009.28Â while the coastal parishes receiveÂ
$21,989,752.31.
âEvery single penny of this funding will be invested in our flood control, coastal restoration, and hurricane protection. But at the end of the day, as great of news as this is, the focus needs to remain on the current trajectory of President Bidenâs policies that stop future domestic energy production and pose a threat to our communities â whether that be the increased risk of flooding, the accelerated erosion of our coast, or the displacement of our local jobs,âÂ