HEAT Strategies Provide Energy Lifeline

For Immediate Release: Friday, April 3, 2020
Contact:  Justin Williams, (202) 465-8464, jwilliams@nullnoia.org

HEAT Strategies Provide Energy Lifeline

Washington, D.C. – National Ocean Industries Association (NOIA) President Erik Milito issued the following statement regarding the House Energy Action Team (HEAT) letter to President Trump on energy relief:

“The spread of COVID-19 and the ill-timed Saudi Arabia-Russia price war has cast tremendous uncertainty over the American energy outlook. In places like the Gulf of Mexico, energy companies and workers are struggling to get by. The HEAT policy strategies, particularly royalty relief and lease extension policies, would provide a lifeline to vital American energy production.

“The offshore energy industry is not far removed from one historic downturn; a sustained second downturn would be catastrophic. Safe and environmentally responsible produced American energy is of the utmost importance to our economy, national security and way of life, and it faces severe risks without serious action. NOIA applauds this letter and encourages sustained action by President Trump and Congress.”

 

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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.