Cassidy Announces $156 Million for Louisiana in Energy Revenue Sharing

WASHINGTON – U.S. Senator Bill Cassidy, M.D. (R-LA), announced that Louisiana is receiving a total of $156,329,442.65 in revenue from the Department of the Interior from energy produced in the Gulf of Mexico during Fiscal Year (FY) 2023. Louisiana constitutionally dedicates revenues from offshore energy production to pay for conservation, restoration, and environmental projects to preserve and restore its eroding coastline. 

“Louisiana energy benefits stretch far beyond job creation and energy production,” said Dr. Cassidy. “This revenue will be used to improve the lives of all who call South Louisiana home by rebuilding our coastlines, better protecting our coastal communities.”  

The Gulf of Mexico Energy Security Act (GOMESA), which was signed into law in 2006, created a revenue sharing program between the federal government and the States of Louisiana, Texas, Mississippi, and Alabama for oil and gas exploration and development activities off their coasts to benefit the nation. Last February, Cassidy introduced the bicameral and bipartisan Reinvesting in Shoreline Economies & Ecosystems (RISEE) Act. The RISEE Act would both return GOMESA to its original intent and create a new dedicated stream of funding from offshore wind development for coastal protection and resiliency. Specifically, it would eliminate the state revenue sharing cap, currently at $375 million, and lift the Land & Water Conservation Fund’s state-side funding cap of $125 million. Simply lifting the cap on state revenues could send nearly $2 billion over 10 years to the state of Louisiana for conservation. 

FY23 breakdown:

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