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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Shipping Industry Flying On The Dragon’s Back

As the many Greek players in the shipping industry know well, the legend of Icarus tells us the dangers of flying too high. Merchant vessel earnings eventually

Subsea 7 Profits Dip in Q1

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.

Sembcorp Profit Halved as Clients Defer Projects

Revenue falls 30 pct; order book at S$9.7 billion. Singapore rig-builder Sembcorp Marine's quarterly profit halved as customers deferred projects, and it faces

Energy

India's Highest non-coking coal discharge at Gangavaram Port

Gangavaram Port, the deepest and the most modern port in the country, has created yet another historical milestone record by discharging 1,56,339 metric tons of Non-Coking Coal from the vessel M.

Floating Products Storage in Focus

For much of 2015, talk of floating storage was dominated by speculation that the contango in crude futures might support crude floating storage, says Gibson Tanker Report.

Olympic Subsea Vessel Bags Contract

Olympic Shipping has secured a contract for Olympic Delta, an inspection, maintenance and repair (IMR) vessel, with an international client  to work on a renewable energy project.

Government Update

Holland America Line Kicks off Seattle's Record Cruise Season

The Port of Seattle begins the 2016 cruise season welcoming the first ship call, Holland America Cruise Line’s Nieuw Amsterdam. Larger vessels and more cruises

MARAD: $5 Mln Available for Marine Highway Projects

The Maritime Administration (MARAD) has announced the availability of $5 million in Federal funding to expand marine highway service by creating new or expanding

Pacific Nations Take a Stand on Shipping Emissions

On Earth Day, Pacific leaders queued among 175 countries to sign the Paris Agreement in New York. Earlier that day in London, the International Maritime Organization (IMO),

Offshore Energy

Subsea 7 Profits Dip in Q1

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.

Ulstein Verft's First Wind Service Vessel Launched

Shipbuilder Ulstein Verft has launched its first vessel within the renewable energy segment, and also the first with the newly-developed X-STERN hull line design.

Incat Crowther Supplies Crewboat Design, Build Kits

Incat Crowther has been awarded a contract with shipbuilder Astinave EP of Guayaquil, Ecuador for the supply of vessel design services and aluminum component kits for a pair of 22.

 
 
Maritime Contracts Maritime Security Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Shipbuilding / Vessel Construction 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: 0.0885 sec (11 req/sec)