For Immediate Release: Friday, August 12, 2022
NOIA Contact: Justin Williams, (202) 465-8464 | firstname.lastname@example.org
Washington, D.C. - National Ocean Industries Association (NOIA) President Erik Milito issued the following statement after the U.S. House of Representatives passed the Inflation Reduction Act:
Energy & Climate Package Promotes Offshore Energy Policies of National Importance
"As we said when the Inflation Reduction Act of 2022 passed the Senate, no piece of legislation is perfect. However, we welcome passage by Congress of a bill which undoubtedly secures an all-of-the-above energy framework to boost offshore oil and gas, offshore wind, and carbon capture and storage — all key priorities for long-term American energy security. We are confident that the president will swiftly sign this into law, and that America’s offshore industry will keep doing what it does best: producing American energy. We once again thank Senator Manchin and his team for brokering this legislation."
The Inflation Reduction Act includes several NOIA priorities that would strengthen the outlook for the American offshore energy industry, including:
Offshore Oil & Gas
Carbon Capture & Storage
Offshore Lease Sales: Offshore Wind & Offshore Oil & Gas
In order to issue an offshore wind lease, an oil and gas sale of 60 million acres (roughly an area-wide Gulf of Mexico lease sale) must have been held in the prior year. This tie-in runs for 10 years.
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.