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Accelerated Revenue Sharing to Fund Coastal Protection & Restoration

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from the office of Senator Mary Landrieu

courtesy of the Louisiana Press Association

This impending environmental disaster just reaffirms that Louisianians have said for years – states producing energy offshore deserve a fair share of the revenues.

Right now, the oil is 100% a federal resource, but Louisiana and other Gulf Coast states bear 100% of the risk.

 Revenue sharing won’t prevent these accidents, but it can improve coastal sustainability and resiliency. 

That way, our coast is in a better position to respond to/recover from these incidents as opposed to defending an already deteriorated coast with no ongoing compensation to mitigate the impacts of energy production.

 The Domenici-Landrieu Gulf of Mexico Energy Security Act of 2006, dedicates 37.5 percent of offshore oil and gas revenues to coastal protection and restoration in the four Gulf energy-producing states – Alabama, Mississippi, Texas and Louisiana.   

However, these states do not begin to share in the significant revenue until 2017.

Under the legislation Sen. Landrieu has introduced, The Restoring Ecosystem Sustainability and Protection of the Delta (RESPOND) Act, funds from new leases off Louisiana’s coast would be shared immediately, as opposed to 2017.

This funding stream is necessary if Louisiana is ever to be able to defend itself from manmade disasters, like the oil spill, or natural disasters such as hurricanes. 

For more information, contact:

Aaron Saunders, Communications Director

 United States Senator Mary Landrieu (D-La.)

328 Hart Senate Office Building, Washington, DC 20510

P: 202-224-0098

F: 202-224-9735

E-mail: aaron_saunders@landrieu.senate.govwww.landrieu.senate.gov

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Written by demon53

June 10, 2010 at 3:55 pm

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