Business group says Gulf of Mexico energy output matches Biden climate plans

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06/14/21

President of the National Association of Oceanic Industries Erik Milito

WASHINGTON, DC – National Ocean Industries Association President Erik Milito released the following statement after NOIA submitted comments to the United States Securities and Exchange Commission on the climate change disclosures:

“The mission of offshore energy companies is to solve, adapt and deploy solutions and best practices to optimally balance societal and environmental needs. Whether it’s the Gulf of Mexico, which provides one of the lowest carbon barrels in producing regions, wind projects along the Atlantic coast, or other emerging carbon reduction technologies, such as Hydrogen development and carbon capture and storage, the offshore energy sector’s record path for innovation and technological advancement is world-class. The offshore energy sector is a climate asset that the Biden administration should make full use of.

“There is substantial momentum across all segments of the economy when it comes to transparency and reporting of GHG emissions, sustainability and ESG performance. The SEC must exercise restraint not to take any action that might hinder or otherwise complicate these ongoing efforts. The US Gulf of Mexico region is recognized as one of the lowest carbon barrels of the various producing regions due to the continued dedication of the women and men in the energy industry to producing vital energy in such a way responsible. The efforts of the US government should be used to prevent the substitution of sustainable and responsible US offshore production with barrels from high-emission foreign sources with weak environmental oversight, such as Russia, China or Iran.

“NOIA and the full diversity of its members are committed to advancing the principles of innovation, conservation, efficiency, resilience, mitigation, adaptation and best practices that must be part of a systematic approach to tackling the climate challenge, and we share a commitment to a high level of corporate citizenship and continuous improvement of ESG performance. We look forward to working with the SEC on this matter. “


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