Gulf of Mexico Energy Security Act (GOMESA)
The Gulf of Mexico Energy Security Act (GOMESA) of 2006 created a revenue-sharing model for oil- and gas-producing gulf states. Under the act, Alabama, Louisiana, Mississippi, and Texas receive a portion of the revenue generated from oil and gas production offshore in the Gulf of Mexico. The act also directs a portion of revenue to the Land and Water Conservation Fund.
The Gulf of Mexico Energy Security Act of 2006 (PDF) (GOMESA) created revenue-sharing provisions for four states and their coastal political subdivisions
The act also directs a portion of gulf revenue to the Land and Water Conservation Fund
Purpose of funds
GOMESA funds are to be used for coastal conservation, restoration, and hurricane protection.
There are two phases of GOMESA revenue sharing:
Phase I: Since 2007, 37.5% of all qualified gulf revenues are shared among the four states and their coastal political subdivisions. Revenues are generated from leases in specific geographic areas defined in the act. Additionally, 12.5% of revenues are disbursed to the Land and Water Conservation Fund.
Phase II: The second phase of GOMESA revenue sharing started in fiscal year 2017. It expands the areas that qualify for revenue-sharing (PDF) under GOMESA.
Phase II also imposes revenue-sharing caps on states and the Land and Water Conservation Fund. Overall state revenue-sharing caps are:
- $375 million for fiscal years 2017–2019
- $487.5 million for fiscal years 2020 and 2021
- $375 million for fiscal years 2022–2055
The cap is lifted beginning in fiscal year 2056.
Expanded leasing area
The act stipulated 8.3 million acres be offered for oil and gas leasing shortly after the enactment of the statute. This acreage is included in the Central Gulf Planning Area and the Eastern Gulf Planning Area.
The GOMESA Moratorium covers a portion of the Central Gulf of Mexico Planning Area and — until 2022 — most of the Eastern Gulf of Mexico Planning Area.