Louisiana To Get $94M In Offshore Oil Money For Restoration
WASHINGTON (AP) — The federal government is set to pay Louisiana $94.7 million of its royalties from Gulf of Mexico offshore oil revenue earned in the fiscal year 2018.
News outlets report the U.S. Department of the Interior on Thursday announced the latest Gulf of Mexico Energy and Security Act award will go toward coastal restorations projects and flood protection.
The 2006 act is meant to distribute federal revenue collected from energy-related offshore drilling to several states, including Alabama, Mississippi, and Texas. The funding handed out this week amounts to nearly $215 million.
Louisiana's award is about $12 million more than it received under the program last year. The money will be split by the state's 19 coastal parishes and the state Coastal Protection and Restoration Authority, which will get about $76 million.