NOIA Applauds New Bill in Support of Virginia Offshore Energy

For Immediate Release:                                                                     Contact:  Nicolette Nye

Thursday, March 25, 2010                                                                                 (202) 347-6900       

 

NOIA Applauds New Bill in Support of Virginia Offshore Energy

WASHINGTON, DC – The National Ocean Industries Association applauds the continued bi-partisan support from Virginia leaders of energy exploration, development, and production offshore the Commonwealth.  A bill to require Interior Secretary Ken Salazar to conduct a Lease Sale off Virginia, introduced today by Representative Bob Goodlatte (R-VA), is the latest in a series of strong pushes for offshore energy from Virginia leaders.

 

This bill continues the bipartisan effort of leaders including Governor Bob McDonnell, Senators Jim Webb (D-VA) and Mark Warner (D-VA) and state leaders in the Virginia General Assembly to move forward with offshore energy production off Virginia.

 

“Two weeks ago, Governor McDonnell signed two State laws that virtually opened the door and put out the welcome mat to energy development off its shores,” said NOIA President Randall Luthi.   “Today, Virginia is still holding the door open and hoping the Federal government will take a seat at the table.”

 

The bill also provides for allocation of any revenue from future oil and gas activity.  Allowing states such as Virginia to share in revenue from offshore drilling is an incentive to explore for resources off their shores, and is a concept that NOIA supports. 

 

“From our perspective, Congressional action in support of revenue sharing is part of the package,” said Luthi “It just makes sense.”

 

It is estimated that energy exploration and production offshore Virginia would create thousands of new, well-paying jobs and generate billions of dollars in revenue.  NOIA member companies are ready, willing and able to safely provide vital domestic energy and well-paying jobs for America. 

 

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 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.  The NOIA membership comprises more than 250 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.