July 22, 2005: Bush Administration Offers Alternative to Louisiana-Favored Oil and Gas Revenue Sharing Proposal

The Bush administration proposes an alternative to the offshore gas and royalty revenue-sharing measure that has been proposed in the House (see April 21, 2005) and Senate (see June 28, 2005) versions of the 2005 Energy Policy Act (HR 6). The measure is being strongly pushed by Louisiana politicians because the state stands to earn about half a billion dollars over the next ten years, which they would use to help fund efforts to restore Louisiana’s coastal wetlands. The administration’s proposed alternative would provide the Louisiana with only about $54 million from 2007 through 2015. The White House argues that its approach, based on new oil and gas exploration, would not cut into revenue needed for government expenses. [Advocate (Baton Rouge), 7/26/2005]