NOIA Applauds Passage of HR 1230

Press Release
Friday, May 06, 2011

Washington, D.C. – The National Ocean Industries Association (NOIA) congratulates the U.S. House of Representatives for the bipartisan passage today of H.R. 1230, “Restarting American Offshore Leasing Now Act.”  If enacted by the full Congress and signed into law by the President, the bill requires that federal offshore lease sales that have been delayed start up again in the Gulf of Mexico and off the east coast of the United States.

“In this time of high fuel prices, the passage of this bill sends a strong message to the American consumer that the United States is willing to make every effort to provide more reasonably priced energy and more jobs,” said NOIA President Randall Luthi.  
 
In addition to providing more domestic energy, lease sales also provide billions of dollars in revenue to the Federal government each year, second only to federal revenues paid by the American taxpayer.   For example, in 2008 offshore oil and gas producers paid $9.4 billion in bonus bids and more than $1 billion in 2009.

On top of the environmental reviews conducted prior to a particular lease sale, additional environmental analysis will occur as plans are developed for actual exploration and production.

“Our member companies, which represent the full spectrum of offshore energy development, strongly support the passage of this bill which will provide thousands of American jobs and a more reliable, secure and homegrown source of energy,” said Luthi.
 

Source: www.noia.org

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