Paycheck Protection Program Remains a Lifeline for Gulf Coast Businesses; Expanded Energy Action Is Needed

For Immediate Release: Thursday, April 22, 2020
Contact:  Justin Williams, (202) 465-8464, jwilliams@nullnoia.org

Paycheck Protection Program Remains a Lifeline for Gulf Coast Businesses;
Expanded Energy Action Is Needed

Washington, D.C. – National Ocean Industries Association (NOIA) President Erik Milito issued the following statement after the Senate voted to replenish small business loan program:

Washington, D.C. – National Ocean Industries Association (NOIA) President Erik Milito issued the following statement after the House passed its version to replenish the small business loan program:

“Replenishing the Paycheck Protection Program (PPP) and other programs to mitigate the COVID-19 impact provides at least some respite to American workers and businesses. As the Russia – Saudi Arabia price war fallout further cascades an already unprecedented drop in energy demand due to COVID-19, these measures will help workers and businesses along the Gulf Coast and other energy producing areas.

“The Administration and Congress must expand their efforts to support American energy. The Gulf Coast remains under severe distress and without targeted energy action the long term viability of American energy disappears.”

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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.