Offshore Energy Revenue Sharing News

During the testimony today at a Senate Energy and Natural Resources Committee hearing on offshore energy revenue sharing, National Ocean Industries Association (NOIA) president Randall Luthi urged Congress to take the next step in enhancing America’s energy security, energy reliability and American jobs by increasing access to the Outer Continental Shelf (OCS) for energy exploration and development. “Only by providing additional oil and natural gas lease sales in more of the OCS can this theoretical revenue sharing become reality. The two policies are inextricably linked – revenue sharing and access,” Luthi testified. The hearing focused specifically on the Fixing America’s Inequities with Revenues Act (FAIR Act).