America needs energy from all sources — including renewable. But no matter how fast alternative sources of energy are adopted, we know that America will rely mostly on oil and gas for many decades to come.
To meet our rising energy demand we need to further develop the vast resources right here in North America. That will provide us with the stable, reliable energy we need — while improving the nation’s economy, creating new jobs, generating government revenue and increasing our energy security. All of this can be accomplished while being subject to the most stringent safety and environmental standards in the world.
See Report: Offshore Access to Oil and Natural Gas Resources (January, 2014).
"Increasing access to domestic sources of oil and natural gas would create new, good jobs when millions are still looking for work; bring billions of dollars to federal and state treasuries as governments are scrambling for revenue; reduce our balance of trade, and enhance America’s energy security. Access to offshore resources currently off-limits in the Atlantic and Eastern Gulf of Mexico will benefit all Americans by providing more oil and natural gas to fuel our
economy and maintain our quality of life.
"A balanced 'all-of-the-above' energy policy will create jobs and spur investments in all forms of energy. A 2011 study by Wood Mackenzie 1 estimated that exploring for and developing oil and natural gas currently off-limits could result in increased production in the amount of 4.2 million barrels of oil equivalent per day, support 20,000 jobs, and generate $313 billion for state and federal governments."
How much untapped energy lies off our shores?
Modern seismic surveys would help produce the most accurate results, but according to surveys from the 1980s, there is an estimated 3.3 billion barrels of oil and 31 trillion cubic feet of natural gas that could be available by opening up the Atlantic coastline to exploration.
Unfortunately, obstacles put in place by our policymakers are preventing us from accessing those resources or conducting modern seismic surveys. The industry cannot move forward.
Learn more about why it’s vital to start developing these resources now.
Offshore Access to Oil and Natural Gas Resources (January, 2014).