Page 20: of Marine News Magazine (October 2024)

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OpEd

Offshore

Anchoring America’s Energy Future:

The Vital Role of Offshore Energy

By Erik Milito, President, National Ocean Industries Association

Amidst sensational headlines oil and gas lease sale in the Gulf. Only three lease sales are and questionable policy decisions from Washington, D.C., scheduled over the next fve years. the U.S. offshore energy sector stands resilient. This vital in- These policy decisions are inconceivable given the Gulf’s dustry not only powers our nation with reliable energy but role as a wellspring of stable, affordable and lower-carbon also enables hundreds of thousands of jobs across all 50 states energy that drives economic growth and generates billions and strengthens national security. From the Gulf of Mexico to in government revenues.

the burgeoning offshore wind farms along the East Coast, the The recent ruling by the U.S. District Court for the resilience and innovation of this sector are critical to driving District of Maryland, siding with environmental activists economic growth and ensuring our nation’s energy security. against the Gulf of Mexico Biological Opinion (BiOp),

The Gulf of Mexico has long been a cornerstone of U.S. poses signifcant challenges. By vacating the BiOp effective offshore oil and gas production, recently safely producing December 20, 2024, the court has nullifed a crucial regula- close to 2 million barrels of oil per day with a small foot- tory framework, potentially leading to potential permitting print. Yet, recent developments from Washington have cast slowdowns, operational delays and overwhelmed agencies. a shadow over the region. This decision could open the door to an unpredictable 2024 marks the frst year since 1958 without an offshore regulatory environment, deterring investment and jeopar-

Chevron 20 | MN October 2024