NOIA commends the President’s Budget concerning offshore resources

For Immediate Release: Monday, February 12, 2018
Contact:  Nicolette Nye, (202) 465-8463, nicolette@nullnoia.org

NOIA commends the President’s Budget concerning offshore resources

Washington, D.C. – National Ocean Industries Association (NOIA) President Randall Luthi issued the following statement on the President’s 2109 Budget Proposal:

“The President and Secretary Zinke have set out a forward thinking budget proposal to enable industry to evaluate and explore for offshore energy resources safely while protecting the environment. The framework is a win-win for America. Offshore energy is an investment, not an ATM, and this budget recognizes that distinction.

“Specifically, the budget proposal maintains a sensible offshore revenue sharing program. Continued revenue sharing with coastal states is not only fair, but also important as states make their budgets.   Of course, there must be lease sales to generate the shared revenue. Thankfully, the budget proposal recognizes the need for increased and reliably scheduled lease sales for the future development of valuable offshore oil and natural gas as well as offshore wind resources and complements the President’s recently proposed national offshore energy plan, thus working towards a balanced energy portfolio for our Nation.

“The budget proposal also addresses the specter of exorbitant offshore inspection fees. The downturn in commodity prices, as well as the routine decommissioning of no-longer needed offshore platforms and structures, have resulted in fewer facilities to be inspected; a reality not reflected by recently proposed increases in inspection fees.  Maintaining a stable and reliable inspection fee schedule is a solid signal to the offshore energy industry and encourages more investment in capital projects.”

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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 250 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.