Friday, March 31, 2023

Gulf states divvy up O&G monies

The U.S. Interior Department has sent $353M to four Gulf Coast states - Ala., La., Miss. and Texas - under the Gulf of Mexico Energy Security Act (GOMESA), for wells drilled in federal waters off those states. Louisiana got $156M in revenue from offshore O&G production in the Gulf of Mexico for FY 2022. Most of the money is scheduled for hurricane risk reduction projects. Each state’s share is determined by which wells are within 75 miles of their coastlines. Alabama is to receive $49.7M. Mississippi is to receive $51.8M. (DoI 03/30/23) Interior Disburses Over $353 Million to Gulf States to Support Coastal Restoration and Conservation | U.S. Department of the Interior (doi.gov)

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