NOIA Statement: The Next Five Year Plan

For Immediate Release: Friday, June 13, 2014

Contact:  Nicolette Nye, (202) 465-8463, nicolette@nullnoia.org

 

Statement of NOIA President Randall Luthi on the Next 5-Year OCS Oil and Gas Leasing Program

 

Washington, D.C. – National Ocean Industries Association President Randall Luthi today issued the following statement regarding the initial step in the development of our nation’s next federal offshore oil and gas leasing program:

 

“Today’s announcement from the Bureau of Ocean Energy Management is a long anticipated first step towards what could mean more jobs, energy and revenue to the people of the United States.

“The current Five-Year Program that expires in 2017 included no new access, and  has put the U.S. far behind many other nations that are actively pursuing offshore oil and natural gas energy development – – particularly in the Atlantic basin and the Arctic.  Canada, Mexico, Venezuela, Brazil, Norway, Russia, Cuba and West African nations are examples of countries actually moving ahead with Atlantic and Arctic offshore exploration and development plans.  Contrast that with the United States, where almost 87% of the outer continental shelf has been off limits for decades to even geophysical and geological surveys, let alone exploratory drilling.

“The energy resources on the OCS are vital to the nation’s economic prosperity.  Allowing oil and natural gas development in federal waters in the Atlantic alone could result in as many as 280,000 new jobs, $24 billion annually to the economy, $51 billion in government revenue, and the safe production of 1.3 million barrels per day of oil and natural gas.  But frankly, these numbers likely underestimate the potential.

“Today’s action is a crucial, but still only a first, step in truly adopting an all the above energy policy. The over 300 members of NOIA look forward to working cooperatively and enthusiastically with stakeholders, including states and consumer groups, and with BOEM to provide information about what areas to include in the 2017 – 2022 Five Year Program.  NOIA will also continue to work closely with Congress on legislation to identify areas to include in the Five-Year Program that would open up new and vital areas to enhance our energy security and reliability.”

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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 more than 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.