CARES Act Provides Help to Gulf Coast Businesses; NOIA Encourages Continued Energy Action
For Immediate Release: Friday, March 27, 2020
Contact: Justin Williams, (202) 465-8464, jwilliams@nullnoia.org
CARES Act Provides Help to Gulf Coast Businesses;
NOIA Encourages Continued Energy Action
Washington, D.C. – National Ocean Industries Association (NOIA) President issued the following statement on the Coronavirus Aid, Relief, and Economic Security (CARES) Act:
“NOIA applauds President Trump and Congress for taking action to support American families and businesses. COVID-19 is a unique challenge and passage of the CARES Act, albeit delayed, will provide a key role in stabilizing the American economy. The aid the bill gives to small businesses and distressed sectors will help keep America on its feet.
“By helping small businesses and severely distressed sectors, the legislation will provide much needed support to the businesses along the Gulf Coast and elsewhere that keep American offshore energy flowing. The spread of COVID-19 paired with the ill-timed Russia-Saudi Arabia oil price war is an existential threat to these businesses, many of which are pillars in countless communities along the Gulf Coast.
“The dropping of a noncontroversial energy provision to resupply the Strategic Petroleum Reserve (SPR) in the final bill is worrying. This could foreshadow return of familiar partisanship – at the expense of American energy - in Washington, D.C. The unprecedented challenge of COVID-19 and the collapse of oil prices will take a sustained, bipartisan effort to ensure that American-produced energy does not diminish to the benefit of foreign, state-backed oil and gas companies. Congress should be unified in its support of the millions of workers who make American energy possible, and not forget them to the benefit of Vladimir Putin and Nicolas Maduro.
“Safe and environmentally responsible produced American energy is of the utmost importance to our economy, national security and way of life. The Administration and Congress should continue to look at all available solutions that will preserve the competiviness of American offshore energy production.”
##
The National Ocean Industries Association (NOIA) represents and advances a dynamic and growing offshore energy industry, providing solutions that support communities and protect our workers, the public and our environment.
