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Senator Landrieu Continues to Push Congress for Right to Keep Share of Offshore Oil/Gas Revenues

Posted on: Monday, 20 February 2006, 03:03 CST

By Anonymous

Sen. Mary Landrieu, D-New Orleans today underscored for the Senate Energy Committee the connection between increased energy independence and the right of energy-producing states to keep a fair share of offshore oil and gas revenues. The erosion of Louisiana's coast is a national problem, Landrieu said. Our coastal wetlands and barrier islands are the first line of defense for protecting the offshore and onshore energy infrastructure in the Gulf of Mexico against the combined wind and water forces of a hurricane. A recent report by Louisiana State University found that every 2.7 miles of healthy marsh can reduce storm surge by as much as a foot. As a result of coastal erosion, many pipelines that were once well protected are now exposed and subject to open sea conditions. Landrieu spoke during today's hearing on Lease Sale 181, which will open an additional portion of the Gulf of Mexico to offshore drilling in the hopes of increasing domestic production and decreasing support on foreign oil. Louisiana sends nearly $6 billion in royalties annually from offshore energy production to the U.S. Treasury. Inland states with energy production on federal lands keep at least 50 percent of the royalties whereas coastal states with offshore production keep virtually none.Landrieu said Louisiana would use the royalties to maintain a world-class levee system and restore the state's vanishing wetlands.I strongly believe any legislation that opens new portions of the Outer Continental Shelf to production should also compensate coastal-producing states for the impact to their environments and address the pressing national need to protect our coastline, restore our wetlands and strengthen levee and flood protection for our people living in these coastal areas.

(Copyright 2006 Dolan Media Newswires)

Source: New Orleans CityBusiness

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