AK SJR16

Alaska legislature expresses support for responsible oil and gas development in federal waters offshore Alaska's coast to achieve energy independence and national security

Legislature urges Congress to establish a mechanism for consistently sharing outer continental shelf oil and gas revenue with all coastal energy-producing states on an ongoing basis

Currently 697 active oil and gas leases cover more than 1,500,000 hectares off Alaska's coast, with estimated technically recoverable resources of 27 billion barrels of oil and 132 trillion cubic feet of natural gas

Gulf of Mexico Energy Security Act of 2006 provides Alabama, Louisiana, Mississippi, and Texas with 37.5 percent of revenue from newly leased federal waters in the Gulf of Mexico; resolution requests similar treatment for Alaska and other coastal states

February 2008 Chukchi Sea lease sale generated $2.6 billion in federal revenue; resolution directs copies be sent to President Obama, Congress members, and federal officials