Landrieu Pushes for New Offshore Drilling Model

Posted July 23, 2014 at 2:50am

Sen. Mary Landrieu (D-LA) “used a Tuesday hearing to advocate for legislation that would remove the cap that Gulf Coast states have on the revenue they can receive from offshore drilling royalties and fees,” The Hill reports.  

“Landrieu, chairwoman of the Senate Energy and Natural Resources Committee, said her previous legislation allowed Louisiana, Mississippi, Texas and Alabama to receive 37.5 percent of the revenues that come from Gulf of Mexico drilling, while the federal government receives the rest. But revenues are capped at $500 million per year.”  

Said Landrieu: “No other state or group of states in the country operates under such a cap. Our next step is to lift the cap to accelerate these payments, and to make this more in-line with interior states.”