Washington, D.C. - U.S. Senator Thad Cochran (R-MS) introduced today the “Reinvestment and Environmental Restoration Act of 1998.” This bill would enable the Gulf States to share revenues from off-shore oil and gas wells to support coastal infrastructure development and conservation and wildlife programs.

The bill will redirect to state and local governments 50 % of the revenues received annually from Federal oil and gas development on the Outer Continental Shelf. This revenue could then be used by Mississippi to preserve coastlines and wetlands and to develop the infrastructure necessary to meet the demands of offshore activity. The money directed to the states would also be invested in the Land and Water Conservation Fund and conservation and education programs.

Senator Cochran said, “This legislation would bring more than $85 million annually to Mississippi and enable us to better handle the pressures of off-shore oil and gas production.”