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Washington, D.C. - National Ocean Industries Association (NOIA) President Erik Milito issued the following statement after Senators Bill Cassidy (LA) and Ted Cruz (TX) introduced the Offshore Energy Security Act of 2023:
"NOIA thanks Senators Cassidy and Cruz for their efforts to offer effective energy solutions in Congress. The U.S. Gulf of Mexico plays a vital role as a source of affordable, reliable, and environmentally responsible energy, and its status as a premier energy region is crucial for the overall well-being of our nation. Notably, a growing body of research underscores that U.S. Gulf of Mexico oil production boasts significantly lower emissions compared to most other regions worldwide. Supporting offshore energy, particularly in the U.S. Gulf of Mexico, represents a pathway towards sustained American success and should remain a key priority for Congress.
"Moreover, the ongoing and unnecessary gap in the leasing program is needlessly eroding long-term certainty in the Gulf of Mexico. The uncertainty surrounding the region poses a threat to the energy, economic, and environmental benefits that the Gulf has provided to our nation for decades. The Offshore Energy Security Act will effectively address this issue by injecting much-needed certainty and predictability into U.S. energy production. It will facilitate continued opportunities for investment and job creation in the offshore sector and allow the region to remain a dependable low carbon hub of energy production.
"We look forward to continuing to work with Congress in advancing common-sense energy and climate policies."
- Mandates two offshore oil and gas lease sales in 2024 and two sales in 2025
- Provides certainty to offshore energy producers to continue investing in the United States
- Ensures offshore energy development continues under U.S. environmental standards
- Preserves the value of the 5-year offshore leasing program
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.