Rep. Richmond Expresses Concerns with the President’s Revenue-Sharing Proposal
Washington, DC –In a letter sent to President Obama, Rep. Richmond (LA-02) expressed concerns with his budget proposal as it pertains to revenue-sharing from oil and gas production in the Outer Continental Shelf (OCS).
“While the OCS is owned by all Americans, Gulf States have borne the environmental and infrastructure costs of energy production for decades,” said Rep. Richmond. “Provisions within the President’s budget do not properly take this consideration into account, when calculating revenue sharing.”
“The Entire country benefits from the oil and gas production occurring everyday off the coast of Louisiana. However, most states do not share similar burdens resulting from that production. I trust upon further review the President will recognize these discrepancies and reconsider his proposal.”
The letter to President Obama can be found here.