The American Association of Port Authorities (AAPA) is supporting the Reinvesting in Shoreline Economies and Ecosystems (RISEE) Act.
The proposal would provide further resources for states to invest in port infrastructure by sharing a portion of federal government revenue raised from the lease of offshore waters with state authorities. The move is expected to accelerate projects while expanding domestic supply chains.
“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. “AAPA urges congress to swiftly pass this legislation before the year’s end.”
In addition, the legislation would remove the cap on federal government revenue shared with states via the Gulf of Mexico Energy Security Act (GOMESA). With the passage of the RISEE Act, states receiving funds from the oil and gas industry could expand their investment in coastal resilience and ecosystem protection projects.
With an ever-growing emphasis on offshore wind in the USA, many believe its lack of port infrastructure is a major shortfall. The National Renewable Energy Laboratory estimates the country requires an extra USD 8 billion in port infrastructure investment to meet the White House’s goal of 30 GW of offshore wind energy by 2030.
