WICKER, HYDE-SMITH & PALAZZO WELCOME DISTRIBUTION OF $36.7 MILLION IN GOMESA FUNDS TO MISS.
Off-shore Energy Production in FY2021 Generates Revenue for State, Three Coastal Counties
WASHINGTON, D.C. – U.S. Senators Roger Wicker (R-Miss.) and Cindy Hyde-Smith (R-Miss.), and Congressman Steven Palazzo (R-Miss.) today welcomed the distribution of more than $36.7 million to the State of Mississippi and its three coastal counties for coastal conservation, restoration, and hazard mitigation activities.
The funding represents Mississippi’s share of revenues generated through the 2006 Gulf of Mexico Energy Security Act (GOMESA). The State of Mississippi will receive $29,417,448 in FY2021 funding, with another $3,056,656 for Jackson County, $2,898,939 for Harrison County, and $1,398,765 for Hancock County.
“The steady flow of revenue from oil and gas leases is a significant asset for our Mississippi’s conservation and resiliency efforts,” Wicker said. “The Gulf Coast plays a crucial role in offshore oil and gas production, which can keep our country energy independent. It is important this production continue and not be hampered by President Biden’s overbearing environmental agenda.”
“GOMESA ensures that Mississippi gets a share of royalty revenues from off-shore energy production to undertake conservation and coastal restoration projects,” Hyde-Smith said. “GOMESA is a strong benefit to Mississippi, and we will continue to work to improve it.”
“The conservation of Mississippi’s Gulf coast through hurricane protection, coastal restoration, and flood control projects that are possible because of these GOMESA funds proves year after year the importance of the legislation passed in Congress,” said Palazzo. “However we should not forget that these revenues should and could be higher. The Biden Administration’s anti-energy policies cancelling oil and gas lease sales indirectly defund our states flood and hurricane protection measures. Increasing domestic oil production will not only supplant our energy independence, it will bolster our National security and coastal resilience.”
The U.S. Department of the Interior administers the GOMESA revenue sharing program that provides funding to Mississippi, Louisiana, Alabama, and Texas based on qualified offshore oil and gas leasing revenues. In all, the Interior Department distributed more than $252 million in FY2021 revenue-sharing receipts to the four states.
According to the Interior Department, more than $1.26 billion has been distributed to the four coastal states since GOMESA was enacted. The law also directs a portion of revenue to the Land and Water Conservation Fund.
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