Oil To Net La. $78 Million
by GERARD SHIELDS - Advocate (excerpt)

The federal Minerals Management Service last week announced regulations on how revenue from new offshore drilling will be allocated to Louisiana.

Legislation from 2006 requires that four states — Louisiana, Alabama, Mississippi and Texas — share 37.5 percent of the revenue from new oil and gas production off their shores.

Under the regulations announced last week, which cover the years 2008 to 2016, the allocation of revenues from a newly opened 8 million acres of the Gulf of Mexico will result in Louisiana getting 32 percent of the shared money.