Gulf of Mexico Oil Crisis Brewing - Update on Gov. Response Page 2)

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Jeopardized American energy security and a cost of thousands of U.S. jobs and billions in government revenue.

That’s what we could see if there is a lapse in the U.S. Department of the Interior’s (DOI) five-year program for leasing in the Gulf of Mexico, according to a new analysis by the American Petroleum Institute (API) and the National Ocean Industries Association (NOIA), which was prepared by Energy and Industrial Advisory Partners (EIAP).

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The next five-year offshore leasing program must be in place by July 1, 2022, but is well behind schedule, and no offshore lease sales can be held unless DOI implements a new program, API noted in a statement posted on its website. Nearly 60,000 jobs could be lost without the five-year offshore leasing program and a delay could mean nearly 500,000 barrels per day less in Gulf of Mexico production from 2022 to 2040, according to the report.

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Danos Owner and CEO, Paul Danos, said, “Danos has supported the energy industry in South Louisiana for over 75 years where we employ nearly 2,500 people”.

“Ending or reducing lease sales in the Gulf of Mexico will increase carbon emissions, send jobs overseas, increase the cost of energy for Americans, and take away the largest source of funding to restore and protect our Louisiana coast,” he added.

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