Increase in offshore lease bids shows continued importance of the Gulf of Mexico

WASHINGTON, D.C. – National Ocean Industries Association President Erik Milito issued the following statement after the conclusion of the Bureau of Ocean Energy Management’s Gulf of Mexico Area Wide Lease Sale 256:

“Today we saw the importance of the Gulf of Mexico to America’s energy future. The past year has been tough, but the noted increase in winning bids and number of bid on tracts demonstrates the continued resilience of the U.S. Gulf of Mexico. Long-term projections still show rising energy demand, including for oil and natural gas, and with its world-class infrastructure, safety and environmental performance and positive environmental justice attributes, the U.S. Gulf of Mexico should remain the region of choice for energy production.

“Every dollar spent today is just the start of additional investment in America. Companies will spend millions of dollars exploring, evaluating, and, hopefully, producing from many of today’s lease blocks. These dollars translate to hundreds of thousands of high-paying jobs across every U.S. state and billions of dollars of government revenues, as well as funding for critical programs like the Land & Water Conservation Fund and national park maintenance established by the bipartisan Great American Outdoors Act.

“As NOIA detailed in our recent offshore oil and gas and wind policy proposals, America depends on the Gulf of Mexico. Continued safe and responsible development of the Gulf of Mexico will continue to benefit every American. Otherwise the energy will be produced elsewhere, serving to diminish our energy, economic and national security.”