California Coastal Protection and Louisiana Energy Enhancement Act

California Coastal Protection and Louisiana Energy Enhancement Act - Directs the Secretary of the Interior to make an offer to certain lessees to issue credits in exchange for: (1) the cancellation of specified leases on the Outer Continental Shelf off the coast of California that are nonproducing as of January 1, 2002; and (2) dismissal of any civil actions, or waiver of the right to bring them, by the eligible lessees against the United States relating to pending eligible leases.

Authorizes the use of such credits to: (1) bid on lease sales in the Western and Central Planning Areas of the Gulf of Mexico; (2) make royalty payments on production for oil and gas resources in those planning areas in existence as of the enactment of this Act; or (3) sell or transfer them in accordance with certain requirements.

States that the Outer Continental Shelf land for which an eligible lease is canceled shall be: (1) permanently withdrawn from all forms of disposition, including mineral leasing; and (2) reserved as an ecological preserve to protect traditional fishing areas and to provide conservation, scientific, and recreational benefits.