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

Offshore

Mobil Says Oil Discovery off Guyana is 'Significant'

Unlike almost all its neighbors, Guyana isn’t an oil producer yet. But the energy giant Exxon Mobil recently announced it had discovered “significant” oil off the coast.

US Oil Platform on Fire in Gulf Of Mexico

An oil platform caught fire and was evacuated in the U.S. Gulf of Mexico offshore Louisiana in the early hours of Friday, though no injuries were reported, the U.

IMO Adopts Polar Code Environmental Provisions

United Nations' International Maritime Organization (IMO) has adopted the environmental part of the Polar Code. Hereby, internationally binding regulations on

Energy

Solarworld Wants Duties on Chinese Solar Goods in U.S. Extended

German solar manufacturer SolarWorld will apply to the United States for an extension of duties on Chinese panel imports that are due to end this year, weekly Euro am Sonntag said.

Red Tape, Industrial Relations Could Stifle LNG Potential

Australia could develop the world’s most technologically advanced LNG industry, according to a report by Accenture. But if industry is to reach its potential

Shell CEO Backs Fossil Fuels, Climate Change Warnings

The world's fossil fuel reserves cannot be burned unless some way is found to capture their carbon emissions, Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden said on Friday.

Government Update

Solarworld Wants Duties on Chinese Solar Goods in U.S. Extended

German solar manufacturer SolarWorld will apply to the United States for an extension of duties on Chinese panel imports that are due to end this year, weekly Euro am Sonntag said.

Alaska, Washington to build Arctic Icebreakers

Senator Lisa Murkowski, Alaska, and Senator Maria Cantwell, Washington, have introduced a bill that would authorize the Navy to build up six icebreakers for use by the U.

Launch of First Future Destroyer, Hobart

Speech delivered by the Minister for Defence, Kevin Andrews during the launch of Hobart - the first future destroyer: Thank you for being here on this very important day.

Offshore Energy

Mobil Says Oil Discovery off Guyana is 'Significant'

Unlike almost all its neighbors, Guyana isn’t an oil producer yet. But the energy giant Exxon Mobil recently announced it had discovered “significant” oil off the coast.

US Oil Platform on Fire in Gulf Of Mexico

An oil platform caught fire and was evacuated in the U.S. Gulf of Mexico offshore Louisiana in the early hours of Friday, though no injuries were reported, the U.

Protea to Launch Heavy-Lift Cranes at Nor-Shipping

Protea, a global manufacturer of offshore handling equipment, will launch two types of heavy lift cranes at Nor-Shipping 2015 in Oslo, June 2-5. Tomasz Paszkiewicz,

 
 
Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1421 sec (7 req/sec)