From: Jack Gerard, API
To: David Lifferth,
Subject: America’s Offshore Opportunity
Date: Wed Feb 11 15:58:15 MST 2015
Body:
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    February 11, 2015  

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    America’s Offshore Opportunity      
           
   

Dear David,

The Obama administration’s new five-year plan for offshore energy is making headlines for allowing energy exploration in the Atlantic for the first time in decades. Although it’s a positive step, the plan doesn’t go nearly far enough in allowing access to the 87 percent of federal offshore acreage that is off limits to development.

The Interior Department’s offshore oil and natural gas leasing plan for 2017-2022 only includes one potential Atlantic lease sale – six years from now. And promising areas in the Pacific, Arctic and Eastern Gulf of Mexico remain locked away.

MAP: U.S. Offshore Resources

Recent studies show we’re missing out on significant economic growth and energy security gains. Between 2017 and 2035, the studies from Quest Offshore Resources show that opening areas in the Atlantic, Pacific and Eastern Gulf could:

  • 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 production of more than 3.5 million barrels of oil equivalent per day

New polling shows majorities of voters in Atlantic coastal states support offshore energy development and recognize its potential to create jobs, stimulate the economy and strengthen our nation’s energy security. We’ll never reach our full potential as an energy superpower by keeping so many of our resources locked away.

Sincerely,

Jack Gerard
President and CEO
API

     
     
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