“The revenue from GOMESA is crucial to enhancing and protecting the Gulf coast,” said Texas Land Commissioner George P. Bush. “ These funds will allow the GLO to fund coastal projects targeting the restoration of coastal damage from Hurricane’s Ike and Harvey and enhancing resiliency of the Texas shoreline to prevent future threats. I am excited to continue implementing additional solutions for the benefit of our great state.”
During FY 2018, Interior’s Office of Natural Resources Revenue (ONRR) disbursed approximately $76 million to the Land and Water Conservation Fund (LWCF) and $309 million to the U.S. Treasury from bonuses, rentals, and royalties paid for GOMESA leases.
Click here to read more.