Offshore North Carolina Moratorium Diminishes American Energy, Economic Outlook

For Immediate Release: Friday, September 25, 2020
Contact:  Justin Williams, (202) 465-8464, jwilliams@nullnoia.org

 Offshore North Carolina Moratorium Diminishes American Energy, Economic Outlook

Washington, D.C. - National Ocean Industries Association (NOIA) President Erik Milito issued the following statement after President Trump announced the expansion of the Atlantic energy moratorium to include offshore North Carolina:

 “Americans are trying to climb back from a historic economic downturn, and today’s announcement places additional offshore energy development out of reach and locks away much needed investment and jobs. An offshore moratorium that stretches from the Eastern Gulf of Mexico to the top of North Carolina’s offshore areas needlessly jeopardizes our nation’s long-term economic and national security. Time and time again, we have seen how domestic energy moratoriums only lead to outsourcing of energy production and economic growth as countries such as Russia happily wait in the wings to make up our domestic energy supply gap.

“The announcement also casts tremendous uncertainty on the outlook for wind offshore North Carolina. A recent Wood Mackenzie report indicates that a prospective 2020 or 2021 wind lease sale offshore the Carolinas could support 37,000 jobs and $3 billion in wages annually, more than $44.9 billion in total capital investment and 11.5 GW of electricity. Without a clear and stable regulatory horizon, interest and investment in developing offshore wind resources will be diminished.”

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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.