Increase in states’ share of OCS revenue in energy bill

Petroleum News Staff

U.S. Sen. Lisa Murkowski, R-Alaska, said April 9 that an amendment to share more federal outer continental shelf revenues with coastal states is in the energy bill approved by the Senate Energy and Natural Resources Committee. OCS revenues shared would rise by 25 percent to 12.5 percent.

In Alaska, “half of the money going to the state would be divided equally among the two closest coastal political subdivisions.” The North Slope and Northwest Alaska boroughs would share Beaufort Sea monies; the Kenai Peninsula Borough and the Municipality of Anchorage would get Cook Inlet funds.

OCS revenues would be shared based on state population and miles of coastline.