OTC 2025: A new era for US offshore energy under the Trump administration

As President of the National Ocean Industries Association (NOIA), I am honored to address the Offshore Technology Conference (OTC) at a time of renewed momentum for US offshore energy. We stand at the threshold of a new era—one that prioritizes energy security, economic growth, and innovation under the Trump administration.

For decades, offshore energy has been a cornerstone of American prosperity, powering our economy, securing our supply chains, and supporting hundreds of thousands of high-paying jobs. Yet, recent years have seen unnecessary restrictions and regulatory overreach that hindered our ability to fully harness these resources. With President Trump’s re-election, we are witnessing a policy shift that can reaffirm the critical role of offshore energy in America’s future.

President Trump's executive orders have been instrumental in setting this new course. One of the most significant actions was the executive order signed on January 20, 2025, which directly undoes President Biden's previous ban on new offshore oil and gas leasing across 625 million acres of the US offshore. This ban effectively handcuffed America's potential in energy production, limiting our future strategic and economic capabilities. By reversing this, Trump's administration acknowledges the necessity of leveraging our natural resources for national benefit.

Beyond this executive action, Secretary of the Interior Doug Burgum has issued secretarial orders aimed at revitalizing the offshore leasing program. The current five-year plan, with only three lease sales and a one-year gap between sales, is woefully inadequate to meet national and global energy demands. The administration’s commitment to restoring regular and predictable lease sales is a necessary step toward attracting investment, strengthening supply chains, and ensuring long-term energy security.

The administration is also tackling one of the greatest obstacles to offshore energy development: permitting delays and regulatory bottlenecks. While environmental regulations such as the National Environmental Policy Act (NEPA) were originally designed to safeguard our natural resources, they have increasingly been weaponized by activists to stall projects through endless litigation and bureaucratic red tape.

Reforming these outdated permitting processes is essential—not only for offshore oil and gas but also for emerging sectors like carbon capture and storage (CCS) and offshore wind.

It's worth noting that while this administration focuses on fossil fuels, offshore wind energy, though facing some political challenges, continues to be an area of significant American innovation. The story of offshore wind involves workers from Texas, Louisiana, Wisconsin, and Florida, building everything from vessels to substations far from the Atlantic coastal sites, showcasing the diverse impact of our energy industry across the nation.

Few regions in the world match the energy potential of the Gulf of America. This basin has been a global leader in deepwater production, delivering some of the lowest-carbon barrels of oil anywhere in the world thanks to advanced technology and stringent environmental standards.

The US offshore oil and gas industry supports over 350,000 jobs, and with these new policies, we expect even greater job creation, increased investment, and expanded opportunities for skilled workers. From engineers and welders to supply chain specialists and offshore technicians, the workforce that powers our offshore sector is one of America’s greatest strengths.

A predictable and investment-friendly regulatory environment is key to ensuring that capital flows into US projects rather than overseas markets. Companies that have built world-class expertise in deepwater oil and gas development are now applying their skills to offshore wind, CCS, and advanced subsea technology—demonstrating that offshore energy is a driving force of innovation across all energy sectors.

This is a moment to lean into, not just for the immediate economic benefits but for setting a foundation for the next generation of energy professionals and technologies.

Moreover, NOIA remains committed to responsible offshore development that prioritizes safety, environmental stewardship, and cutting-edge technology. From CCS to advancements in drilling and emissions reduction, the offshore sector continues to lead in developing innovative, lower-carbon energy solutions.

OTC is a critical platform where we can discuss how to collaborate across sectors, share best practices, and push for policies that encourage both traditional and emerging energy technologies without compromising our energy security or economic vitality.

The Trump administration’s course correction can be a game-changer for American offshore energy. By unlocking leasing opportunities, streamlining permitting, and promoting investment, we can restore U.S. energy dominance, strengthen our economy, and secure long-term energy stability.

The companies at OTC are proving that offshore energy is not just keeping pace with change—it is leading the way. Whether it’s deepwater oil and gas, floating wind, CCS, or subsea minerals, the future of offshore energy is one of growth, innovation, and opportunity.

With the right policies and continued industry leadership, we can ensure that offshore energy remains a pillar of American prosperity for generations to come.