Louisiana could receive an additional $1.9 billion in revenue from Gulf of Mexico oil and gas and a separate share of revenue from Gulf wind energy operations under federal legislation expected to be considered Thursday.
The U.S. Senate’s Energy and Natural Resource Committee on Thursday will consider the the bipartisan Reinvesting In Shoreline Economies and Ecosystems Act, authored by Sens. Sheldon Whitehouse, D-Rhode Island, and Bill Cassidy, R-La.. That bill would lift a present $500 million annual cap on oil and gas revenue shared with Gulf states.
Read more: Louisiana could see $1.9B from Gulf oil, additional money from wind, under Senate bill
