Steve Scalise introduces bill to expand offshore energy incentives to all states
November 7, 2017
A House Republican leader introduced a comprehensive bipartisan energy bill on Friday that would open up financial incentives for states that allow energy development off their shores.
The SECURE American Energy Act was introduced Friday by House Majority Whip Steve Scalise of Louisiana, who was joined by House Natural Resources Committee chairman Rob Bishop of Utah. Democratic Reps. Henry Cuellar and Vicente González of Texas also signed onto introducing the legislation.
Scalise explained that the bill provides "incentivizes" for offshore energy production by extending revenue-sharing agreements from Alaska to the Atlantic states while raising existing revenue-sharing caps to provide Gulf states like Louisiana with hundreds of millions in additional dollars to help restore their coasts.
Revenue sharing allows states where offshore drilling takes place to receive part of the fees and royalties that come from oil and natural gas producers that operate on federal leases. The states are able to receive a percentage of the federal royalties before they go to the Treasury. Gulf states have participated in revenue-sharing agreements for years, and the bill would open up states like Virginia and New Jersey to receive a portion of the royalties generated off of federal leases.
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