DoI to disperse $215M to Gulf states

The U.S, Department of the Interior announced April 25 that four Gulf Coast states – Alabama, Louisiana, Mississippi and Texas – and their costal subdivision will be getting nearly $215M in FY 2018 energy-producing revenues under a revenue-sharing formula in the federal Gulf of Mexico Energy Security Act (GOMESA). The funds will be used to support coastal conservation and restoration projects, hurricane protection programs, and activities to implement marine, coastal, or conservation management plans, DoI announced. Louisiana will get $94.7M - about $13M more than the previous year. Louisiana receives by far the greatest share of the Gulf revenues shared with the other three Gulf states. Alabama will get $30.6M, Mississippi $31.7M, and Texas $57.9M. GOMESA funds are derived from qualified O&G leasing revenues on the Outer Continental Shelf, and disbursed in accordance with the revenue-sharing provisions of the legislation. (Source: Dept. of Interior 04/25/19)