NOIA Applauds Congress' Passage of Energy Legislation
The National Ocean Industries Association (NOIA) praised Congress for its vote Saturday, passing legislation to open more acreage on the nation's Outer Continental Shelf (OCS) to oil and natural gas exploration and production.
Tom Fry, president of NOIA, said, "With today's vote, Congress recognized that the nation has been operating under a flawed public policy for decades that refuses to allow energy supply to keep pace with increasing demand. As a result, we have experienced increasing prices for oil and natural gas as well as an increasing reliance on imported energy.
"To ensure the future security and economic prosperity of the nation requires rethinking the policies that have consistently placed over 80 percent of the OCS off-limits," argued Fry, "despite a long record of safe and environmentally-responsible exploration and production."
"Even with exploration and production limited to such a small percentage of the nation's OCS, the offshore still accounts for about 30% of the American oil and natural gas produced every year. Imagine if we were to free ourselves from these self-imposed limitations. We are the only nation in the world to consistently limit access to our own domestic resources. Today's vote begins to rectify that situation," Fry continued.
Fry concluded by saying, "This bill will certainly not solve all of the nation's energy challenges, but today we have at least begun to take a step in the right direction."
NOIA is the only national trade association representing all segments of the offshore industry with an interest in the exploration and production of energy resources on the nation's outer continental shelf. The NOIA membership comprises more than 300 companies engaged in business activities ranging from producing to drilling, engineering to marine and air transport, offshore construction to equipment manufacture and supply, telecommunications to finance and insurance.
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