HOME | Monitor | Murkowski Convenes Hearing on Legislation to Provide Alaska with Offshore Energy Revenue

Murkowski Convenes Hearing on Legislation to Provide Alaska with Offshore Energy Revenue

Nov 13, 2019 | Monitor

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

Alaska Business Magazine June 2020 Cover

June 2020

“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

Industry Sponsor

Become an Industry Sponsor

Alaska Business Magazine June 2020 Cover

In This Issue

The Unbroken Supply Chain

June 2020

Alaskans have some experience both with isolation and sudden emergencies. Earthquakes, volcanic eruptions, seasonal flooding, and wildfires seldom schedule their arrival. And while emerging technology and developing infrastructure have allowed Alaska to become more connected, as Alaskans we know we’re still at the end of the road—even more so for those living beyond the road in Alaska’s remote communities.

Share This