Western GofM Oil/Gas Lease Bidding: NOIA Comments

Press Release
Wednesday, November 28, 2012

National Ocean Industries Association President Randall Luthi encouraged by sales, urges further offshore developments.

Tthe NOIA president's statement is as follows:

"This sale is on-par with expectations and shows that the offshore oil and natural gas industry is still committed to domestic exploration and production. The Federal government benefits from this sale through non-income tax revenue and the promise of future income through rents and potential royalties upon production.  With enormous economic challenges facing the U.S., and the impending "fiscal-cliff" dominating the national conversation, it is gratifying to see the offshore industry stepping up to the plate and providing hundreds of millions of dollars to the U.S. treasury.

American energy consumers also stand to benefit from this sale through the increased energy security and reliability that successful development of leased tracts will bring.

Any sale is good news for the offshore oil and natural gas industry, Federal government, and energy consumers, but today’s sale should also serve as a reminder that Federal policy has placed nearly all of our offshore energy "eggs" in one basket.

The Gulf of Mexico is America's offshore energy hub – the source of about 30% of our domestic oil and around 11% of our domestic natural gas.  But, as we saw this summer, storms that pass through the region can temporarily shut-off this vital spigot, causing spikes in fuel prices.  Diversification into other offshore areas would spread our energy "eggs" out over several baskets, increasing domestic energy security and reliability and reducing our dependence on foreign sources.
 
“By restricting activity to the same 15% of the outer continental shelf that the industry has been picking over for decades, the Administration is ensuring that our offshore energy resources are being underdeveloped.  We are all losing as a result. A true "all-of-the-above" energy policy would include opening up access to new offshore areas for exploration and development of oil and natural gas.”"
 

 

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

USACE Barges, Tugs Up for Repair

The United States Army Corps of Engineers (USACE) Buffalo District has awarded a repair contract to Great Lakes Shipyard for two tugs and two barges from the Corps’ Cleveland Field Station.

DSME Building 5 Icebreaking LNGCs for Yamal

Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) is building five large Arctic Liquefied Natural Gas Carriers (LNGCs), for which it has LNG ordered

NewLead Holdings Acquire 5 Vessels

NewLead Holdings Ltd. announced today that it recently added five bitumen tanker vessels to its fleet. The Company has expanded its fleet to 10 vessels in less

Offshore

Wärtsilä Propulsion Solution for 3 Tugs

Three large new escort tugs contracted by Norwegian operator Østensjø Rederi, will feature Wärtsilä dual-fuel (DF) engines integrated with a customized gas storage

Russia – Turkey Gas Pipeline Approved

Ankara hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Taner Yildiz, Turkish Minister of Energy and Natural Resources.

Greatship to Buy PSV

Greatship (India) Limited (GIL), a wholly owned subsidiary of The Great Eastern Shipping Company Limited, has signed a contract to buy a 2015-built 4000 dwt Platform Supply Vessel (PSV).

Offshore Energy

Wärtsilä Propulsion Solution for 3 Tugs

Three large new escort tugs contracted by Norwegian operator Østensjø Rederi, will feature Wärtsilä dual-fuel (DF) engines integrated with a customized gas storage

Greatship to Buy PSV

Greatship (India) Limited (GIL), a wholly owned subsidiary of The Great Eastern Shipping Company Limited, has signed a contract to buy a 2015-built 4000 dwt Platform Supply Vessel (PSV).

US Proposes Allowing Oil, Gas Drilling off Atlantic Coast

The Obama administration on Tuesday proposed allowing for the first time oil and gas exploration in a wide swath of U.S. waters off the Atlantic Coast.   The

 
 
Maritime Contracts Maritime Standards Naval Architecture Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
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: 0.1430 sec (7 req/sec)