Feb 15, 2012 7:55 PM by Ashley Guidroz
The House of Representatives passing legislation today to bring the state about $2 billion more in coastal restoration and hurricane protection funding. The legislation was backed by Louisiana Congressmen Jeff Landry and Cedric Richmond.
The Landry/Richmond Amendment to H.R. 3408, also known as the PIONEERS Act, will increase the offshore drilling revenue given to Louisiana, Texas, Mississippi, and Alabama from $500 million per year to $750 million per year.
"Our amendment returns more offshore revenues to the coastal states that produce the needed energy for our country, and it provides Louisiana more money to restore and protect our coast," said Congressman Landry. "Though this has been a long fight, it is welcomed news to our coastal communities. I am glad that Cedric and I were able to capitalize on what our predecessors had started."
In 2006, Senator Mary Landrieu and then-Congressman Bobby Jindal passed the Gulf of Mexico Energy Security Act (GOMESA), which secured a share of offshore oil and gas revenues for Louisiana, Texas, Mississippi and Alabama. GOMESA capped revenue shared with the Gulf states at $500 million per year.
"Louisiana sacrifices dearly in contributing to the nation's energy supply," said Congressman Richmond. "From rebuilding after hurricanes to cleaning up oil spills, Louisiana is only asking for the means to help itself. This amendment will go a long way to providing balance between the sacrifice Louisianans make and the benefits we receive."
Following House passage, H.R. 3408 including the Landry/Richmond Amendment will become part of H.R. 7, also known as the American Energy and Infrastructure Jobs Act. This legislation is expected to be voted on by the Senate later this year.