Cassidy’s bipartisan coastal restoration measure advances out of committee

The U.S. Senate Energy and Natural Resources Committee on July 21 advanced a bipartisan bill introduced by U.S. Sen. Bill Cassidy (R-LA) that would increase the percentage of revenue generated from offshore energy projects that is shared with adjacent coastal states.

“This is another step in getting the $50 billion Louisiana needs to restore our coastline. This is important for our state and for our country,” Sen. Cassidy said. “There is much more to do, but every step gets us closer to protecting our communities and our people.”

Sen. Cassidy in June 2021 cosponsored the Reinvesting in Shoreline Economies and Ecosystems (RISEE) Act of 2021, S. 2130, with bill sponsor U.S. Sen. Sheldon Whitehouse (D-RI) and a group of original cosponsors that included U.S. Sen. Roger Wicker (R-MS).

If enacted, the legislation also would amend the Gulf of Mexico Energy Security Act to, among other things, remove the revenue sharing cap that could bring billions of additional dollars to Louisiana and the Gulf Coast region, according to a bill summary provided by the lawmakers.

Currently, Gulf of Mexico energy royalties are shared by four Gulf energy-producing states, including Louisiana, with the U.S. Treasury Department, according to information provided by Sen. Cassidy’s staff.

Louisiana uses the funding for conservation, restoration and environmental protection projects to preserve and restore its eroding coastline. However, offshore wind revenue is excluded from the program, the information states.

Additionally, S. 2130 would create a new national revenue sharing program from offshore wind, according to the bill summary, and would make any offshore wind leases auctioned beginning Jan. 1, 2022 eligible for revenue sharing under this agreement, among other provisions.

The bill, which has dozens of supporters — including state and local government and business leaders, as well as the Environmental Defense Fund, the National Audubon Society, the American Sportfishing Association, and Citizens for Responsible Energy Solutions, among many others — now heads to the full U.S. Senate for consideration.