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Coastal News Today | LA - Louisiana gets $110 million in offshore oil revenue; here s how it will be divided

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 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.

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