Congressman Steve Scalise today said that the U.S. Department of the Interior's Minerals and Management Service federal oil and gas lease sale will provide critical revenue to help restore Louisiana's coast. Congressman Scalise has introduced legislation that would provide 50 percent of immediate federal revenue sharing for Louisiana and other states who participate in offshore oil and gas activity.
"The revenue from these oil and gas sales will be critical to restoring our coast, which is Louisiana's first line of defense against future storms," Scalise said. "My bill would immediately increase the amount Louisiana will get from OCS revenues, which are dedicated specifically for coastal restoration and flood protection. Louisiana plays a vital role in establishing energy independence, and this offshore oil and gas lease sale will help our economy and create good jobs in our region."
37.5 percent of the revenues generated from leased acreage in this area will be shared among Louisiana, Alabama, Mississippi and Texas.