GEST Comments on Mark-Up of New "Five Year Plan"

(Press Release)
Thursday, July 19, 2012

The Gulf Economic Survival Team today commented on the House Natural Resources Committee’s mark-up of H.R. 6082, a bill that seeks to replace the President’s “Five-Year Plan” for Outer Continental Shelf (OCS) oil and gas leasing.

“We applaud Chairman Hastings for leading the charge to generate more robust offshore energy activity in the next five years,” said Lori LeBlanc, Executive Director of the Gulf Economic Survival Team.  “As the Chairman understands, offshore energy production is a complex endeavor that necessitates years of planning and upfront capital investment.  If the Gulf energy industry is to bear fruit in years to come, the seeds have to be planted today – beginning with a robust menu of potential leases to develop.

“The Obama administration’s tepid five-year plan illustrates its continuing ambivalence about offshore energy production,” continued LeBlanc. “The plan’s failure to open up new tracts along the U.S. east and west coasts – coupled with limited offerings in the Alaskan OCS – will keep Americans reliant on overseas energy supplies well into the future.  Perhaps the administration’s approach is not surprising in light of the continuing inefficiencies found in the regulatory process in the Gulf of Mexico.

“Our own experience tells us that offshore production creates jobs, propels economic activity and directs revenue to the U.S. Treasury.  A stream of academic studies bear this out.  And, as we’ve seen today, a host of lawmakers also understand these fundamental dynamics.  Let’s hope that the administration one day overcomes its reluctance to embrace the economic and energy security engine that offshore energy activity can provide,” concluded LeBlanc.


 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

MHI Completes Development of "Sayaringo STaGE"

Mitsubishi Heavy Industries, Ltd. (MHI) has completed development of the "Sayaringo STaGE," a next-generation LNG (liquefied natural gas) carrier. The Sayaringo

Drillsearch Discovers Gas at Varanus South-1

Drillsearch Energy Limited announced a new wet gas discovery on the Western Cooper Wet Gas Fairway of the Cooper Basin. The Varanus South-1 well in PEL 513 (Drillsearch

Gazprom to Partner Turkey to Supply Gas

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

Government Update

WRRDA: Clearing the Channel for P3 Projects

A Creative Combination for Financing Inland Waterways Infrastructure Earlier this year, the U.S. maritime industry in general, and the inland waterways industry in particular,

EU: Ships Will Measure CO2 Emissions

Shippers to begin monitoring from 2018; Environmental groups say law is weak, shippers favorable. The shipping sector will for the first time have to monitor

Melbourne Box Pot Lining Up Bidders

Three of Australia's largest infrastructure funds plan to bid for the country's largest container terminal in a sale expected to fetch about A$5 billion ($4.27 billion) for Victoria state,

Offshore Energy

Wärtsilä Integrated Solutions for Maersk's AHTS Vessels

A new series of six Anchor Handling Tug Supply vessels to be built at the Kleven Verft AS in Norway for the Danish based Maersk Supply Service A/S - part of the A.

Drillsearch Discovers Gas at Varanus South-1

Drillsearch Energy Limited announced a new wet gas discovery on the Western Cooper Wet Gas Fairway of the Cooper Basin. The Varanus South-1 well in PEL 513 (Drillsearch

Fourth Rig Delivered to Perforadora Central

Keppel AmFELS LLC, a wholly owned US subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has delivered the jackup rig, Coatzacoalcos, to Mexico’s Central Panuco S.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Simulators 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: 0.2440 sec (4 req/sec)