We can't wait till 2017 for the resources we need to save our imperiled coast. We and other oil-producing coastal states must start getting the 37.5 percent share of oil and gas royalties from new drilling in the Gulf now. Not seven years in the future. Not when it's too late and there's nothing left to save.
Sen. Mary Landrieu has introduced a bill that would speed up the timetable. It would cost the federal treasury $3 billion a year. It's the right and fair thing to do. The decision lies with Congress. President Obama should be our ally-in-chief in the battle to save Louisiana's coast. His administration should work tirelessly on behalf of this legislation. So far, he's been silent.
We have shared only minimally in the wealth that pours into federal coffers, but we bear the risks of oil production. NOLA
Friday, May 28, 2010
Louisiana Wants its Share of Oil Revenues Now
The Times-Picayune has an editorial advocating for its share of oil revenue earlier than 2017.