Murkowski Convenes Hearing on Legislation to Provide Alaska with Offshore Energy Revenue
Senator Murkowski’s first round of questions during hearing on federal energy revenue sharing.
US Senate Energy and Natural Resources Committee
US Senator Lisa Murkowski chaired a hearing of the Energy and Natural Resources Committee to examine federal revenue derived from energy development as well as programs that share those revenue with state, local, and tribal governments.
As part of the hearing, the committee also received testimony on two bills:
- 2418, Senator Bill Cassidy’s (R-La.) Conservation of America’s Shoreline Terrain and Aquatic Life (COASTAL) Act, and
- 2666, Senator Martha McSally’s (R-Ariz.) Public Land Renewable Energy Development Act (PLREDA).
In her opening remarks, Murkowski thanked Cassidy for introducing the COASTAL Act, which would provide Alaska and its coastal political subsidiaries with 50 percent of the revenue from energy production in its federal Outer Continental Shelf, and underscored the need to bring revenue sharing for coastal producing states into parity with onshore development.
Senator Murkowski’s second round of questions during hearing on federal energy revenue sharing.
US Senate Energy and Natural Resources Committee
Current Issue
April 2021
“Congress laid the foundation for offshore revenue sharing through the passage of the Gulf of Mexico Energy Security Act (GOMESA) back in 2006. At that time the bill did not include Alaska. The COASTAL Act that we are considering now would establish a revenue sharing program that would include Alaska,” Murkowski said. “Offshore revenue sharing is a matter of simple fairness. The Beaufort and Chukchi Seas and Cook Inlet are American waters by virtue of Alaska, and Alaska alone. We build the infrastructure and provide the public services that are needed for responsible development, but we also bear the impacts. Those who shoulder much of that burden, it is only right that they should share in a greater opportunity for the benefit.”
Murkowski also emphasized that federal energy revenue support federal programs like the Land and Water Conservation Fund (LWCF).
Senator Murkowski’s closing remarks during hearing on federal energy revenue sharing.
US Senate Energy and Natural Resources Committee
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The Corporate 100
April 2021
Alaska Business has been celebrating the corporations that have a significant impact on Alaska’s economy since 1993. At the time, the corporations weren’t ranked as the list didn’t have specific ranking criteria. Instead, the Alaska Business editorial team held long, detailed, and occasionally passionate discussions about which organizations around the state were providing jobs, owned or leased property, used local vendors, demonstrated a high level of community engagement, and in general enriched Alaska.