NOIA Statement on President Trump’s Fiscal Year 2018 Budget

RandallLuthi_webFor Immediate Release: Tuesday, May 23, 2017
Contact:  Nicolette Nye, (202) 465-8463, nicolette@nullnoia.org

NOIA Statement on President Trump’s Fiscal Year 2018 Budget

Washington, D.C. – National Ocean Industries Association (NOIA) President Randall Luthi issued the following statement on President Trump’s FY2018 Budget:

 “NOIA whole-heartedly appreciates the Trump administration’s overall pro-American energy message, and supports the President’s budget proposals that will serve to advance the safe and environmentally-responsible development of offshore energy resources; particularly the development of a new five year offshore leasing program and streamlining of permitting and inspection processes.

“However, budget proposals regarding Gulf State revenue sharing and the Strategic Petroleum Reserve (SPR) appear to miss the mark on the Administration’s stated goal of energy dominance. Eliminating Gulf state revenue sharing for offshore energy production would punish coastal states that support and host the development of home-grown energy and jobs, and would be a serious step backward in the quest for energy reliability and independence. In addition, the proposed sale of one-half of the nation’s emergency oil supply in the Strategic Petroleum Reserve (SPR) could threaten domestic energy security by limiting our ability to counter any unforeseen supply interruptions.  Any plan for depleting the SPR should be accompanied by a plan to refill it.”

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ABOUT NOIA

NOIA is the only national trade association representing all segments of the offshore industry with an interest in the exploration and production of both traditional and renewable energy resources on the nation’s outer continental shelf.  NOIA’s mission is to secure reliable access and a fair regulatory and economic environment for the companies that develop the nation’s valuable offshore energy resources in an environmentally responsible manner. The NOIA membership comprises about 300 companies engaged in business activities ranging from producing to drilling, engineering to marine and air transport, offshore construction to equipment manufacture and supply, telecommunications to finance and insurance, and renewable energy.