“The RISEE Act presents a chance for the port industry to invest in America’s manufacturing economy by building out a new generation of energy infrastructure,” said AAPA President & CEO Cary S. Davis. “Senators Cassidy and Whitehouse deserve tremendous credit for their bipartisan leadership on this smart proposal. AAPA urges Congress to swiftly pass this legislation before the year’s end.”
The legislation would also remove the cap on Federal Government revenue shared with states through the Gulf of Mexico Energy Security Act (GOMESA). This existing funding source provides Gulf states with funds from the oil & gas industry, allowing them to invest in coastal resilience and ecosystem protection projects. With the passage of the RISEE Act, Gulf states would be able to expand their investment in these projects.
As the American offshore wind industry moves forward, the lack of port infrastructure necessary to support wind farms has emerged as a critical shortfall, among other challenges. The National Renewable Energy Laboratory estimates that the country needs an additional $8 billion of port infrastructure investment to meet the White House’s goal of 30 gigawatts of offshore wind energy by 2030. The RISEE Act would help close that gap.
With the 118th Congress coming to a close, the RISEE Act is the type of bipartisan legislation that Congress should focus on. With Democratic and Republican champions, the bill should be promptly approved by Congress.
