From: Jack Gerard, API
To: Scott Jenkins,
Subject: America’s Untapped Potential for Offshore Energy
Date: Wed Nov 19 15:30:32 MST 2014
Body:
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    November 19, 2014  

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    America’s Untapped Potential for
Offshore Energy
     
           
   

Dear Scott,

The message from American voters is loud and clear: they want more job-creating, pro-growth energy policies. With a clear pro-energy mandate, Congress and the Obama administration should waste no time moving forward with commonsense policies to build on America’s energy resurgence.

Here’s an obvious opportunity for growth: developing more of America’s abundant offshore energy resources. Currently, 87 percent of federal waters are off-limits to oil and gas exploration and production, including the entire Atlantic coast and nearly all of the Pacific coast and Eastern Gulf of Mexico.

New studies (Atlantic, Eastern Gulf, Pacific) show we’re missing out on significant economic growth and energy security gains.According to the studies from Quest Offshore Resources, opening these three areas for offshore oil and natural gas development in the federal government’s next 5-year leasing program could, between 2017 and 2035:

20141119OffShoreMap

  • Create nearly 840,000 new American jobs
  • Grow our economy by up to $70.2 billion per year
  • Raise over $200 billion in cumulative revenue for the government
  • Lead to oil and natural gas production of more than 6.8 billion barrels of oil equivalent

Polling shows 70 percent of voters in this year’s midterm elections support offshore drilling for domestic oil and natural gas resources. If you’re looking for a bipartisan policy that will create jobs, grow the economy and boost America’s energy security, it’s hard to do better than offshore energy access.

Sincerely,

Jack Gerard
President and CEO
API

     
     
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