STATE RESPONDS TO RELEASE OF OFFSHORE ENERGY REVENUE SHARING ALLOCATIONS
Baton Rouge, LA - On Friday, the U.S. Department of the Interior released offshore energy revenue sharing allocations to the state of Louisiana and coastal parishes. The state of Louisiana will receive $222,725 from offshore energy production in 2009. Louisiana's 19 coastal parishes will share in approximately $56,000 or an average of less than $3000 each.
In recent years, energy production off the shores of Louisiana has generated in excess of $5 billion annually for the federal government.
"For the state of Louisiana to receive well below one ten-thousandth of one percent of the money received by the federal government from energy production off our coast in 2009 is unacceptable", said Garret Graves. "Louisiana has literally powered this nation's economy and lowered our reliance on foreign energy imports. While our coast and our wetlands have suffered from erosion and, now, the Deepwater Horizon spill has devastated our coastal communities, it is inappropriate for the federal government to profit from our loss", added Graves
Louisiana is the leading source of offshore energy in the nation. Dating back to the 1940s, the waters offshore Louisiana's coast has produced up to 90 percent of the nation's offshore energy generating over $165 billion for the federal treasury. The state of Louisiana has received a fraction of a percent in return. On July 12, 2010 Governor Jindal called for the expansion of offshore energy revenue sharing.
"To continue to allow some states to receive up to 90 percent of the revenues from energy production on federal lands while providing coastal states a fraction of a percent is indefensible. The policy needs to change now." Graves stated.