NOIA Applauds Virginia Offshore Energy Bill

Monday, March 29, 2010

The National Ocean Industries Association (NOIA) applauds the continued bi-partisan support from Virginia leaders of energy exploration, development, and production offshore the Commonwealth. A bill to require Interior Secretary Ken Salazar to conduct a Lease Sale off Virginia, introduced by Representative Bob Goodlatte (R-VA), is the latest in a series of strong pushes for offshore energy from Virginia leaders.

This bill continues the bipartisan effort of leaders including Governor Bob McDonnell, Senators Jim Webb (D-VA) and Mark Warner (D-VA) and state leaders in the Virginia General Assembly to move forward with offshore energy production off Virginia.

“Two weeks ago, Governor McDonnell signed two State laws that virtually opened the door and put out the welcome mat to energy development off its shores,” said NOIA President Randall Luthi. “Today, Virginia is still holding the door open and hoping the Federal government will take a seat at the table.”

The bill also provides for allocation of any revenue from future oil and gas activity. Allowing states such as Virginia to share in revenue from offshore drilling is an incentive to explore for resources off their shores, and is a concept that NOIA supports.

“From our perspective, Congressional action in support of revenue sharing is part of the package,” said Luthi “It just makes sense.”

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