NOIA President Randall Luthi released the following statement after providing testimony today before the House Committee on Natural Resources Subcommittee on Energy and Mineral Resources on H.R. 5577, the Innovation in Offshore Leasing Act:
“NOIA applauds Congressman Graves and Ranking Member Lowenthal for their bipartisan sponsorship of the Innovation in Offshore Leasing Act and thanks the Energy and Mineral Resources Subcommittee for holding today’s hearing.
“Offshore energy development is a vital part of the U.S. economy, providing jobs, energy security and much needed government revenue. With that in mind, it is imperative that offshore lease sales remain a reliable, safe and transparent process. NOIA members will welcome an innovative lease sale process that reduces costs, guarantees that their bids remain confidential until publically released and ensures that bids are recorded correctly. The Innovation in Offshore Leasing Act is common sense legislation that will help bring the offshore lease sale process into the 21st Century.
“The Bureau of Land Management will be conducting its first internet-based onshore lease sale this fall, and the Bureau of Ocean Energy Management already holds online offshore wind lease auctions. There’s no reason why offshore oil and gas lease sales should be left behind. NOIA looks forward to working with the subcommittee and the rest of Congress in seeing this bill passed.”