Lessons Learned from the Energy Activities in the Gulf of Mexico Region as a Guide for Accelerating and Financing Energy Activities in the Atlantic Region during the Energy Addition

by Buford Boyd Pollett, The University of Tulsa

Introduction

(Addendum 07/02/2023) From a "bird's-eye" perspective in global energy development, we are now transitioning into the Golden Age of New Energy while at the same time entering the Heyday of natural gas with natural gas having an "annual production peak ... around 2060, reaching up to 4.5 × 1012 m3, which will play a pivotal role in the future energy sustainable development." Similarly, the European Union (EU) now classifies some specific uses of natural gas within the EU's "taxonomy of sustainable sources of energy." Additionally, from the ground level, the Atlantic offshore wind sector would benefit from a symbiotic creation of multi-purpose fabrication yards, the building of Jones Act compliant vessels, and other logistical and transportation infrastructure as we experienced in the Gulf of Mexico region. As one state Louisiana representative has noted, "If you can build an oil rig, you can build a wind turbine...We have the infrastructure and the manpower." This approach fits the energy strategy of President Obama, President Trump and recently even the Biden administration's pursuit of a sustainable all-of-the-above energy policy even on the Atlantic OCS.

Since we are entering the energy addition that brings together the Golden Age of New Energy and the Heyday of Natural Gas, this paper examines how the offshore energy industry and the US Atlantic region would benefit from the offshore energy industry, stakeholders and regulators working together in establishing a stable employment base, fabrication yards and other infrastructure needed for a high level of design, construction, installation as well as vessel utilization in compliance with Jones Act requirements.

The article has been added to the OGEL 5 (2022) Special Issue on Offshore Energy Investments and Activities - Lessons Learned from the Energy Activities in the Gulf of Mexico Region as a Guide for Accelerating and Financing Energy Activities in the Atlantic Region during the Energy Addition and is available here www.ogel.org/article.asp?key=4059 (sign in to download)