National Ocean Industries Association (NOIA) President Randall Luthi issued the following statement commenting on the proposed offshore revenue sharing Senate Energy bill:
“NOIA thanks Senators Murkowski and Landrieu for continuing their visionary leadership on the revenue sharing issue by offering this bill. NOIA has long advocated revenue sharing as fair and equitable treatment for coastal states supporting responsible offshore oil and gas exploration and development.
Allowing all coastal states to share in prospective future revenue from both traditional and renewable offshore energy activities is sound public policy. However, steps must be taken to ensure that lease sales are actually conducted in new areas where they’re currently prohibited or else the revenue is merely theoretical.
NOIA is grateful for Senators Murkowski’s and Landrieu’s long-standing support for such new access and looks forward to working with them and other committee members in hopes of marrying this bill with concrete access provisions to make coastal state revenue sharing a reality.”