Dauphin Island Sea Lab Opens Water-based Research Facility
The Dauphin Island Sea Lab (DISL) announced the recent completion of its newest research facility- a multi-stressor wet lab. A ribbon-cutting ceremony for the new multi-stressor wet lab was held on Monday, January 23, 2023, with U.S. Treasury Department representative Dr. Bridget Cotti-Rausch, Alabama State Senator David Sessions (R-Grand Bay), and Dr. Amy Hunter with the Alabama Department of Conservation and Natural Resources (ADCNR).In this new facility, researchers will be able to examine how marine organisms respond to multiple changes in environmental conditions simultaneously. These
Offshore Wind Could Bring In $1.7B to U.S. Treasury by 2022
The United States has an opportunity to accelerate offshore wind energy growth, and benefit from 28 new gigawatts of wind power and $1.7 billion in U.S. Treasury revenue by 2022, according to a study released by the energy intelligence group Wood Mackenzie. Apart from the benefits to the Treasury, the offshore wind industry in the U.S. could create 80,000 jobs annually from 2025 to 2035.Commissioned by four energy industry groups, American Wind Energy Association (AWEA), National Ocean Industries Association (NOIA), New York Offshore Wind Alliance (NYOWA), and the Special Initiative on Offshore
NOIA Weighs in on The COASTAL Act
adjacent to these offshore areas. By amending GOMESA and establishing a revenue sharing program for Alaska, the COASTAL Act will ensure that these states receive continued benefits from their participation in offshore energy production, while still protecting an irreplaceable revenue stream for the U.S. Treasury, the Land and Water Conservation Fund (LWCF), Historic Preservation, and other important Federal funding priorities. Congress must connect the dots between responsible offshore energy development and the critical funding it can provide the American public. This bill is a step in that direction.&ldquo
US Coast Guard Shipwreck Found – 100 Years Later
The shipwreck remains of a historic U.S. Coast Guard cutter have been discovered off of Southern California 100 years after the vessel was lost at sea. In its heyday, the Coast Guard Cutter McCulloch – commissioned in 1897 as a cruising cutter for the U.S. Treasury’s Revenue Cutter Service, a predecessor of the Coast Guard – saw its share of action, having served with Commodore George Dewey in the Battle of Manila Bay in 1898 as part of the U.S. Asiatic Squadron that destroyed the Spanish Pacific fleet in the first major battle of the Spanish-American War. Twent
US Offshore Regulator to Unveil Tougher Environmental Safeguards
small and large producers to craft tailored financial plans, Orr said. The agency already has met privately with dozens of oil-and-gas producers and insurers to lay out its new rules, which may permit additional forms of security previously not allowed, such as third-party guarantees and U.S. treasury notes, she said. Two energy exploration and production companies, Stone Energy and W&T Offshore, have been told by the agency that they no longer qualify for bonding exemptions for their Gulf of Mexico operations under the current rules. Both companies said in SEC filings that
Ensco Announces Cash Tender Offer
consideration for each $1,000 principal amount of notes validly tendered and accepted for payment pursuant to the tender offer will be determined in the manner described in the Offer to Purchase by reference to a fixed spread of 20 bps over the yield based on the bid side price of the 0.375% U.S. Treasury due March 15, 2016, as calculated by Deutsche Bank Securities Inc. at 2:00 p.m., New York City time, on March 10, 2015. Holders whose notes are purchased will also receive accrued and unpaid interest thereon from the last interest payment date up to, but not including, the settlement date. The
Western GofM Oil/Gas Lease Bidding: NOIA Comments
potential royalties upon production. With enormous economic challenges facing the U.S., and the impending "fiscal-cliff" dominating the national conversation, it is gratifying to see the offshore industry stepping up to the plate and providing hundreds of millions of dollars to the U.S. treasury. American energy consumers also stand to benefit from this sale through the increased energy security and reliability that successful development of leased tracts will bring. Any sale is good news for the offshore oil and natural gas industry, Federal government, and energy consumers, but
GEST Comments on Mark-Up of New "Five Year Plan"
. Perhaps the administration’s approach is not surprising in light of the continuing inefficiencies found in the regulatory process in the Gulf of Mexico. “Our own experience tells us that offshore production creates jobs, propels economic activity and directs revenue to the U.S. Treasury. A stream of academic studies bear this out. And, as we’ve seen today, a host of lawmakers also understand these fundamental dynamics. Let’s hope that the administration one day overcomes its reluctance to embrace the economic and energy security engine that offshore
February 2024
