DOI Disburses Nearly $249MM to Gulf States

DOI Disburses Nearly $249MM to Gulf States
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.

These funds, which are disbursed annually based on oil and gas production revenue, are used to support coastal conservation and restoration projects, hurricane protection programs, and activities to implement marine and coastal resilience management plans, the DOI noted. The 2020 disbursement figure is the second largest since the DOI first began disbursing Gulf of Mexico Energy Security Act (GOMESA) revenues to states and their CPS in 2009, the DOI highlighted, adding that since GOMESA’s passage in 2006, the DOI has disbursed over $1 billion to the coastal states and their CPS.

GOMESA was created as a revenue-sharing model for oil and gas producing Gulf states to receive a portion of the revenue generated from oil and gas production offshore in the Gulf of Mexico. GOMESA funds are derived from qualified oil and gas leasing revenues on the Outer Continental Shelf and disbursed in accordance with the revenue-sharing provisions of the GOMESA legislation.

According to its website, the DOI conserves and manages the United States’ natural resources and cultural heritage, provides scientific and other information about natural resources and natural hazards, and honors the United States’ trust responsibilities or special commitments to American Indians, Alaska Natives, and affiliated island communities. The U.S. Senate recently voted to confirm Debra Haaland to lead the DOI.

To contact the author, email andreas.exarheas@rigzone.com



WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.