Dallas Investment Banker Requests Jones Act Waiver to Send Skimmers to Gulf, Sends Open Letter to Admiral Allen

DALLAS, June 17 /PRNewswire/ -- Fred McCallister, an investment banker with Allegiance Capital Corporation, sent a letter to Incident Commander Admiral Thad Allen today asking for a limited waiver of the Jones Act, to enable 12 to 25 foreign flagged skimmer ships to assist in clean-up efforts in the Gulf.

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"Many in the Gulf have been calling for this equipment, which can collect 3,500 gallons of oil per hour per vessel from Gulf waters. With estimates now at 2.5 million gallons of oil spilling into the Gulf every day, the urgency can't be overstated," said McCallister, a Vice President at Allegiance Capital.

The Jones Act has been waived as part of disaster response in the past, including a waiver to assist in response to Hurricane Katrina. More recently it has been waived to support renewable energy development efforts off of the coast of Delaware. Several Gulf state leaders have asked for a general waiver of the Jones Act this week.

Mr. McCallister has 12 skimming vessels specifically designed to remove surface oil from the Gulf that are immediately available and at least 13 more that can be made available over the next few weeks. The firm also has specialized vessels for deploying oil booms and providing housing for personnel working in the Gulf of Mexico on the BP oil spill cleanup.

SOURCE Allegiance Capital Corporation

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