OFFSHORE ENERGY BY THE NUMBERS

Feb 2, 2015 by

Oceana’s report finds that offshore wind would produce twice the number of jobs and twice the amount of energy as offshore drilling in the Atlantic Ocean. The report, healing titled
Offshore Energy by the Numbers, pharm An Economic Analysis of Offshore Drilling and Wind Energy in the Atlantic, sick challenges recent claims by the oil and gas industry that opening the East Coast to offshore drilling will
lead the United States to energy independence, generate millions of dollars in revenue for states and create thousands of jobs in the process. Oceana’s analysis instead finds that the benefits projected by the industry appear to be exaggerated due to the inclusion
of oil and gas resources that are not economically recoverable, thereby inflating the potential benefits. Industry estimates also rely upon an assumption of a state revenue-sharing system that does not exist.

Oceana’s report also finds that offshore oil and gas development along the Atlantic could put at risk some of the nearly 1.4 million jobs and over $95 billion in gross domestic product that rely on healthy ocean
ecosystems, mainly through fishing, tourism and recreation. In fact, Oceana says the threats of offshore drilling would begin far before a rig is ever put in the water. In July, the Obama administration announced its decision to consider proposals for the
use of seismic airguns that make dynamite-like blasts to search for oil and gas deposits deep below the ocean floor in an area twice the size of California, stretching from Delaware to Florida.

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