GoM Energy Workers Testify Need of Offshore Lease Sales

Press Release
Tuesday, March 05, 2013

Two members of the Gulf Economic Survival Team testified at a U.S. House Natural Resources Subcommittee on Energy & Mineral Resources Oversight hearing.

Two members of the Gulf Economic Survival Team – Chett Chiasson, Executive Director of the Greater Lafourche Port Commission and Cory Kief, Director of Business Development for Crosby Tugs – testified on behalf of the offshore industry.The hearing examined the economic importance and energy contribution of the industry, as well as the need to support industry growth through appropriate policies, including robust lease sales.

Port Fourchon director Chiasson testified about the importance of lease sales for industry growth: “For Port Fourchon to continue to grow and have a successful future creating jobs throughout the economy and facilitating development for our community, Gulf of Mexico lease sales are critically important. That is the future of the oil and gas industry. Robust lease sales have the ability to energize oil and gas service companies, their suppliers, and their suppliers’ suppliers throughout the country planning for future development. That facilitates critically needed investment by entities that service these offshore activities, which has a positive ripple effect throughout the national economy.”

In his testimony, Cory Kief of Crosby Tugs described the multiple layers of jobs directly connected to the offshore industry: “Drilling is just the beginning. Following drilling, infrastructure such as pipelines and platforms must be developed to support production. The fabrication of these items are constructed in fabrication yards throughout the country, and then loaded onto barges that are towed to the drilling locations to be installed. These installations require services to support their task once they have been completed. Companies like ours support these activities and depend on them for our vitality. Needless to say, a robust lease sale would definitely be encouraging for our stability and potential growth.”

“It’s important to remember the economic impact as well as the enormous revenue that a healthy offshore industry can generate,” said Lori LeBlanc, Executive Director of the Gulf Economic Survival Team. “Between 2008 and 2010, Gulf oil production increased by approximately 35% -- but then declined by 25% between 2010 and 2012. This comes at a high cost. In 2008, Gulf lease sale revenues amounted to $9.5 billion – a figure that shrank to just $663 million last year. Similarly, royalty revenue from the Gulf, which added up to $7.5 billion in 2008, was $2 billion lower last year. Policymakers need to connect the dots and actively support the economic and revenue drivers that we have in hand here in the Gulf by fostering smarter, more robust energy policy for the offshore.”


 

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

Legal

K&L Gates Welcomes Martinko

The Washington D.C., office of global law firm K&L Gates LLP has welcomed Stephen Martinko as a government affairs counselor in the public policy and law practice.

ST Marine Launches First LMV for RSN

Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), held the Launching ceremony for the first

Antwerp Joins “One Belt, One Road” Taskforce

“One Belt, One Road” is a Chinese development strategy launched at the end of 2013 that focuses on connectivity and cooperation among countries primarily in Eurasia.

Government Update

White House: Iran Talks Deadline Could Slip

The White House said Tuesday's deadline for negotiators in Vienna to come to a final, firm agreement on Iran's nuclear program could slip. When asked if President

K&L Gates Welcomes Martinko

The Washington D.C., office of global law firm K&L Gates LLP has welcomed Stephen Martinko as a government affairs counselor in the public policy and law practice.

GEORG FORSTER Calls Southampton for the First Time

The CMA CGM Group announced that the CMA CGM GEORG FORSTER called England for the first time on July 6th.    With its 1,305 ft. (398m) length and 177 ft. (54m) width,

Offshore Energy

ISS Inks Service Pact with Technip

Inchcape Shipping Services (ISS) and Techniphave signed a contract to provide marine agency services and logistics for the Rashid C project in the Middle East. Currently

Indonesia Expects Total to Decide on Mahakam within days

French oil firm Total  will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the

First Subsea Wet Gas Compressor Installed

After several years of technology development, construction and testing the first subsea wet gas compressor in the world is now installed at the Gullfaks C platform in the North Sea.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators
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: 0.1725 sec (6 req/sec)