Upgrading, renewing, and expanding the Jones Act fleet is the next huge ship building opportunity in the world today. It has been more than three decades since America held the number one position in worldwide tonnage production. In the intervening 30+ years, Germany, the Netherlands, Japan, Korea, and now China have ascended to the top of the worldwide shipbuilding industry building large fleets of new marine assets for the global economy. Today foreign yards are sold out thru 2027.

There is no doubt that America must add offshore wind to its energy infrastructure tool kit. The ability of the United States to successfully compete in the global economy requires that we access all reliable sources of energy, including oil, gas, coal, solar, and nuclear, to power our cities, homes, and domestic businesses.

After World War II, the United States was the world’s leading shipbuilder. But in 1981, President Reagan eliminated its long-standing subsidy program which left American shipyards to compete with heavily subsidized foreign rivals like China. Today, the U.S. ranks 19th in the world for commercial shipbuilding, accounting for just 0.35 percent of global new construction. And we have become heavily dependent on China and East Asia for products and resources, most of which are imported by sea.