Salazar announces OCS revenue shares under EPACT-authorized program

Six US coastal states will share nearly a half billion dollars from offshore oil and gas revenues in fiscal 2009 and 2010 to help restore and protect coastal wetlands, wildlife habitat and marine areas, US Interior Secretary Ken Salazar said on Apr. 20.

He said that Alabama, Alaska, California, Louisiana, Mississippi, Texas and their coastal local governments will have access to the money authorized under the 2005 Energy Policy Act which is allocated based on each state's qualified Outer Continental Shelf Revenue generated off its coast.

The distributions will take place under the Coastal Impact Assistance Program, which was created under EPACT and is administered by the US Department of the Interior's Minerals Management Service.

In each of the two fiscal years, Louisiana will receive about $121 million, Alaska $37.5 million, Texas $35.6 million, Mississippi $23.8 million, Alabama $19.7 million, and California $5 million. Portions of the money will go directly to 67 coastal political subdivisions, DOI said.

It said that Alaska's allocation rose more than 1,500% from the minimum in 2007 and 2008 because of about $2.6 billion of bonus payments in OCS Lease Sale No. 193 in the Chukchi Sea, held in February 2008, and variability of production in the Gulf of Mexico due to recent hurricanes.

DOI said that EPACT requires that funding under the program be used for coastal area conservation, preservation and restoration; mitigation of damage to fish, wildlife or natural resources; implementation of a federally-approved marine, coastal or comprehensive conservation management plan, or mitigation of impacts from OCS activities through funding of onshore infrastructure projects and public service needs.

It said that eligible recipients can also use the money to plan these mitigation and restoration measures and to cover administrative costs of complying with program legislation. Only states submitting a coastal impact assistance plan meeting MMS approval are eligible, and plans must be developed in consultation with eligible coastal political subdivisions, DOI said.

Contact Nick Snow at nicks@pennwell.com

Related Articles

Western Australia’s EPA approves Gorgon LNG fourth train

03/04/2015 The Environmental Protection Authority of Western Australia (EPAWA) has approved plans for expansion of the Gorgon-Jansz LNG project on Barrow Isla...

Bear Head LNG requests DOE permits to export US natural gas

03/03/2015 Liquefied Natural Gas Ltd.’s wholly owned subsidiaries, Bear Head LNG Corp. and Bear Head LNG LLC (USA), have filed an application with the US Depa...

Pennsylvania governor proposes natural gas severance tax

03/03/2015 Pennsylvania Gov. Tom Wolf proposed a $29.9 billion budget on Mar. 3 that includes $2.5 billion of net tax increases for fiscal 2016, including a 5...

BOEM proposes lease sale for western Gulf of Mexico

03/03/2015 The US Bureau of Ocean Energy Management (BOEM) will offer more than 21 million acres offshore Texas for oil and gas exploration and development, i...

Shell Canada withdraws application for Pierre River heavy oil project

03/03/2015

Shell Canada Ltd. has withdrawn its regulatory application for the proposed Pierre River heavy oil mine north of Fort McMurray.

Report notes strong Saudi fiscal ‘buffers’

03/03/2015 Saudi Arabia has fiscal buffers enabling it to cover projected deficits while oil prices are low for at least 4 years and perhaps more than 8 years...

Update of earlier NAM study still finds EPA ozone proposal costly

03/02/2015 The US Environmental Protection Agency’s proposed 65 ppb ozone standard could reduce US gross domestic product by $140 billion/year and create $1.1...

GOM REVENUE SHARING-1 Lease sales drive gulf OCS revenues

03/02/2015 The Gulf of Mexico (GOM) Energy Security Act of 2006 (GOMESA) provides for sharing offshore lease revenues in the GOM Outer Continental Shelf (OCS).

Pennsylvania governor asks Obama for stronger crude-by-rail rules

03/02/2015 Noting that 60-70 trains/week carry Bakken crude oil across Pennsylvania to the Philadelphia area or other East Coast refineries, Gov. Tom Wolf (D)...

White Papers

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by

Asset Decommissioning in Oil & Gas: Transforming Business

Asset intensive organizations like Oil and Gas have their own industry specific challenges when it com...
Sponsored by

Squeezing the Green: How to Cut Petroleum Downstream Costs and Optimize Processing Efficiencies with Enterprise Project Portfolio Management Solutions

As the downstream petroleum industry grapples with change in every sector and at every level, includin...
Sponsored by

7 Steps to Improve Oil & Gas Asset Decommissioning

Global competition and volatile markets are creating a challenging business climate for project based ...
Sponsored by

The impact of aging infrastructure in process manufacturing industries

Process manufacturing companies in the oil and gas, utilities, chemicals and natural resource industri...
Sponsored by

What is System Level Thermo-Fluid Analysis?

This paper will explain some of the fundamentals of System Level Thermo-Fluid Analysis and demonstrate...

Accurate Thermo-Fluid Simulation in Real Time Environments

The crux of any task undertaken in System Level Thermo-Fluid Analysis is striking a balance between ti...

6 ways for Energy, Chemical and Oil and Gas Companies to Avert the Impending Workforce Crisis

As many as half of the skilled workers in energy, chemical and oil & gas industries are quickly he...
Sponsored by

Available Webcasts



Global LNG: Adjusting to New Realties

When Fri, Mar 20, 2015

Oil & Gas Journal’s March 20, 2015, webcast will look at how global LNG trade will be affected over the next 12-24 months by falling crude oil prices and changing patterns and pressures of demand. Will US LNG production play a role in balancing markets? Or will it add to a growing global oversupply of LNG for markets remote from easier natural gas supply? Will new buyers with marginal credit, smaller requirements, or great need for flexibility begin to look attractive to suppliers? How will high-cost, mega-projects in Australia respond to new construction cost trends?

register:WEBCAST


US Midstream at a Crossroads

When Fri, Mar 6, 2015

Oil & Gas Journal’s Mar. 6, 2015, webcast will focus on US midstream companies at an inflection point in their development in response to more than 6 years shale oil and gas production growth. Major infrastructure—gas plants, gathering systems, and takeaway pipelines—have been built. Major fractionation hubs have expanded. Given the radically changed pricing environment since mid-2014, where do processors go from here? What is the fate of large projects caught in mid-development? How to producers and processors cooperate to ensure a sustainable and profitable future? This event will serve to set the discussion table for the annual GPA Convention in San Antonio, Apr. 13-16, 2015.

This event is sponsored by Leidos Engineering.

register:WEBCAST



On Demand

The Future of US Refining

Fri, Feb 6, 2015

Oil & Gas Journal’s Feb. 6, 2015, webcast will focus on the future of US refining as various forces this year conspire to pull the industry in different directions. Lower oil prices generally reduce feedstock costs, but they have also lowered refiners’ returns, as 2015 begins with refined products priced at lows not seen in years. If lower per-barrel crude prices dampen production of lighter crudes among shale plays, what will happen to refiners’ plans to export more barrels of lighter crudes? And as always, refiners will be affected by government regulations, particularly those that suppress demand, increase costs, or limit access to markets or supply.

register:WEBCAST


Oil & Gas Journal’s Forecast & Review/Worldwide Pipeline Construction 2015

Fri, Jan 30, 2015

The  Forecast & Review/Worldwide Pipeline Construction 2015 Webcast will address Oil & Gas Journal’s outlooks for the oil market and pipeline construction in a year of turbulence. Based on two annual special reports, the webcast will be presented by OGJ Editor Bob Tippee and OGJ Managing Editor-Technology Chris Smith.
The Forecast & Review portion of the webcast will identify forces underlying the collapse in crude oil prices and assess prospects for changes essential to recovery—all in the context of geopolitical pressures buffeting the market.

register:WEBCAST


Emerson Micro Motion Videos

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected