Bush Budget Boon to Shipyard

Wednesday, February 07, 2007
$2.9b proposal for next year Shipbuilding in Pascagoula would gain, but big farms in the Delta would lose under President Bush's $2.9b budget proposal for next year. Released Monday, the budget recommends spending $168m to expand the Strategic Petroleum Reserve, a series of underground salt caverns along the Gulf of Mexico that store millions of gallons of oil to be used in emergencies. The Energy Department has identified the salt caverns near Richton as the preferred site to increase the reserve's storage of oil from 691 million barrels to 1.5 billion barrels. The reserve was tapped in 2005 for more than 20 million barrels of oil to respond to shortages and price spikes following Hurricane Katrina. The president's budget proposes spending more than $160 million to replenish the reserve and begin buying oil to reach the goal of 1.5 billion gallons. Mississippi would also benefit from Bush's plan to sharply increase defense spending. The president's 2008 budget would increase the Pentagon's shipbuilding budget by nearly 30 percent, to $14.4 billion. That includes $3.4 billion to complete construction of two DDG 1000 Navy destroyers, built jointly by General Dynamics and Northrop Grumman at Ingalls Shipyard. More shipbuilding money for Mississippi can be found in the president's Homeland Security Department budget - about $788 million to revamp the Coast Guard's aging fleet. Northrop Grumman in Pascagoula and Lockheed Martin have been awarded the contract for the Coast Guard Deepwater program, which is now under congressional scrutiny for cost overruns and construction flaws. Bush's budget would extend a series of tax breaks, eliminate more than 140 small federal programs and slow the growth of Medicare and Medicaid. But it's expected to be modified by the Democrat-controlled Congress. Source: Clarion Ledger
Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Damen Responds to Evolving Fishing Practices

Maaskant Shipyards Stellendam meets fishing sector’s growing needs by performing electric pulse fishing conversions   As European fishing policies evolve, so fishing techniques advance.

Maaskant Shipyards Earns ISO 9001:2008 Certificate

Maaskant Shipyards (Stellendam), part of Damen Shipyards Group, has received certification from Bureau Veritas for aligning its quality and management systems with

PIRIOU Delivers 53-meter FSIV

French boat builder PIRIOU has delivered the 11th of its 53- by 10-meter Fast Supply and Intervention Vessels (FSIV) to Suisse Outremer AG, to be operated by ABC Maritime AG.

Maritime Safety

USCG Commandant to Address PVA Convention

Commandant of the U.S. Coast Guard Admiral Paul F. Zukunft will attend the PVA Annual Convention at MariTrends 2015 in Long Beach, Calif. and deliver a keynote

Rig Moves: Mobilized for Performance

The operation of an oil field involves moving rigs or jackups in a maneuver referred to as a rig move. These complex operations require experience and the coordination of all stakeholders.

First ShipArrestor System Delivered in Norway

Following a full product trial in New Zealand, the Norwegian Coastal Administration (NCA) has signed its acceptance of the first of two ShipArrestor systems from Miko Marine,

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1209 sec (8 req/sec)