Washington, D.C. – National Ocean Industries Association (NOIA) President Randall Luthi today issued the following statement on the approval of HR 1229, `Putting the Gulf of Mexico Back to Work Act':
“We applaud the bi-partisan passage today of HR 1229, `Putting the Gulf of Mexico Back to Work Act'. The legislation is important to oil and gas companies because it lays the foundation for consistency and reliability in the offshore permitting process. A statutory timeframe in which the government must decide to either approve or deny a permit to drill offshore will replace the current limbo-like waiting game with a predictable response time. A ‘yes’ or ‘no’ answer allows companies, which range from multi-national corporations with thousands of employees to family-owned ventures that provide hundreds of jobs, to make a business decision on whether or not to contract for a drilling rig, which can cost more than half a million dollars a day. In addition, it is important to note that the proposed time-frame does not short cut any environmental and safety reviews.”
Source: http://www.noia.org