Energy Bill Provides Ocean Renewable Energy Overdue Recognition

The Ocean Renewable Energy Coalition (OREC) will continue to promote our industry's interests. We made a difference in this year's energy bill," stated Sean O'Neill, President of OREC. "There is still much to be done to help ensure our energy security into the future. While we've been included in several of the most important provisions, ocean energy needs to be included in the Production Tax Credits next time around. In the meantime, our highest priorities will be regulatory and permitting reform."

"We began this campaign three months ago," stated OREC CEO, Carolyn Elefant. "It was clear the industry needed a voice in Washington. Together, our voices have quickly become one unified, and effective, chorus. Our message has been that ocean energy provides the greatest potential rewards at the lowest possible cost. We are pleased that renewable energy technologies-especially ocean renewables-are now included as part of the solution to our energy security."

"It has been estimated that if less than 0.1% of the renewable energy available within the oceans could be converted into electricity it would satisfy the present world demand for energy more than five times over."
-UK Marine Foresight Panel, 2000

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