Where is the louisiana government going to acquire the money needed for coastal restoration ?

Louisiana presumes to receive about $6.8 billion from the Deepwater Horizon settlements. The state also will get a higher share of offshore oil and gas proceeds in the next couple of years, adding several hundred million dollars more to the pot. But even with other federal and state funding sources added in, it won’t be still enough to cover the entire plan.

The answer is Gulf energy royalties. Louisiana government going to acquire the money needed for coastal restoration from Gulf energy royalties.

EXPLANATION

Louisiana government can acquire the money that is needed for shore rebuilding from federal oil revenue or the Gulf energy royalties. The Louisiana hurricane protection and the state’s conservation efforts are both won by the Gulf of Mexico Energy and Security Act Funding.  

The revenues that the state is getting from gas and oil activity in the Gulf of Mexico Energy are going to be used for protecting coastal communities and restoring the coast. Louisiana’s coastal restoration biggest fund came from American energy revenue. The American energy will play an increasing role in dollars that will come to Louisiana. The Gulf of Mexico will help Louisiana to protect the coast there and restore it too.

The US Department of Interior told us, that on Thursday there is about $12 million more money being received under the program, than last year. If we calculate it, then it will be around a 14 percent boost of money from last year.

The Louisiana Coastal Protection and Restoration have its own organization, with Chip Kline as the chairman. He said that the increase over last year is the thing that will make Louisiana more optimistic about the increase that is going to be happening in the following years.

LEARN MORE

If you’re interested in learning more about this topic, we recommend you to also take a look at the following questions:

Funding for commersial banks:  

Huey long of Louisiana:  

KEYWORD: Louisiana, coastal restoration, money

Subject: Social Studies

Class: 7-9

Subchapter: Coastal restoration

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