NOIA Expresses Disappointment at Passage of HR 3221 and HR 2776

For Immediate Release                                                                                                         

August 6, 2007                                                                                                                      

Contact:

Michael Kearns

(202) 347-6900

NOIA Expresses Disappointment at Passage of HR 3221 and HR 2776

(Washington, DC) In response to energy and tax legislation passed by the House of Representatives on August 4, Tom Fry, President of the National Ocean Industries Association, made the following statement:

“By passing this bill, the House of Representatives has taken steps that undermine America’s energy future.  At a time when energy demand is on the rise, the House bill will raise taxes on energy producers, inhibit the development of new domestic sources of oil and natural gas, and critically undercut the ability of the nation’s industries to grow and compete in the global marketplace.”

“Passing a bill to undo the small measures taken to increase domestic energy production for the American people in the 2005 Energy Policy Act does not take the country in a new direction.  Instead, it represents a step backward, embracing policies that only further restrict domestic energy production, raise prices and force good-paying jobs to relocate overseas.”

“As the Senate and the House meet in conference to reconcile their respective energy packages, it is our hope that they will find a common ground that rectifies the worst aspects of HR 3221 and takes real steps toward developing a national energy policy that does not demonize the oil and natural gas upon which our national economy so vitally depends.”

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The National  Ocean Industries Association  is the only national trade association representing all segments of the offshore industry with an interest in the exploration and production of resources on the nation’s Outer Continental Shelf in an environmentally responsible manner. The NOIA membership comprises more than 300 companies engaged in numerous 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.