Billions in offshore royalties tied up in government spending fight


Whether Louisiana and other coastal states with offshore energy production will soon receive billions of additional dollars in royalty payments depends upon the partisan fight over funding the federal government that will dominate Congress this week, reports

Reinvesting In Shoreline Economies and Ecosystems Act of 2022, called RISEE, would set up a revenue-sharing framework for the burgeoning wind energy industry and remove the caps on what the federal government pays states in royalties for offshore energy production in federal waters.

That would reap billions of dollars annually for state and local governments, extending to all states with a coastline under the legislation. After years of work and a rare unanimous committee vote in July, RISEE was set for the final votes to enact it into law. But until now the legislation languished on the calendar. Read the entire story.