Senate Must Ensure Final Budget Reconciliation Package Shapes Energy Progress For the Better
Washington, D.C. – National Ocean Industries Association President Erik Milito issued the following statement after the House of Representatives passed its version of the budget reconciliation bill: “The House budget reconciliation bill does advance smart offshore wind and carbon capture and storage (CCS) policies. These provisions can help the U.S. maximize the economic and environmental benefits of the offshore. Offshore wind provides a generational energy and economic opportunity. The widespread deployment of CCS will be critical for achieving the climate change ambitions and goals that have been established by diverse stakeholders around the world. “However, the House language also provides for oil and gas provisions that are nothing more than punitive measures. These include arbitrary new fees that would add millions of dollars in annual operating costs, pricing out U.S. production. These provisions are a gift to higher emitting producers like Russia and China that wield their energy resources as a geopolitical tool and would fundamentally weaken one of America's most important economic, energy, emissions and national security assets. "When the Senate takes up its version of budget reconciliation, it must ensure that the energy provisions are aligned in a way that actually enhances all forms of American energy – including offshore oil and gas - and the multitude of benefits it provides.”
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.