NOIA Applauds Energy Leadership of Members of Congress Seeking Offshore Energy Support

NOIA Applauds Energy Leadership of Members of Congress Seeking Offshore Energy Support

Washington, D.C. – National Ocean Industries Association (NOIA) President Erik Milito issued the following statement after Members of Congress asked the U.S. Department of the Interior to consider targeted support of the American offshore energy industry:

“Congressman Crenshaw and the Members of Congress who signed the letter are 100 percent correct. The spread of COVID-19 paired with the Russia-Saudi Arabia oil price war is devastating the American offshore industry. Interior is in the strongest position to determine what actions may or may not be most effective, and it should continually look at its full toolkit to see what policy options could provide smart, temporary relief. Royalty relief will help preserve American energy competitiveness, while ensuring a fair return to taxpayers.

“It is also important to remember that any long-term energy production America cedes, Russia and Saudi Arabia will gladly make up. The U.S. was unquestionably the energy leader just a few weeks ago. Now, American offshore energy companies are facing an existential threat as foreign, state-backed producers are trying to regain that title. These companies and their workers are the pillars of communities all along the Gulf of Mexico. 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.”