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Posted January 28, 2015
Three maps, two views of America’s offshore energy wealth.
One reflects vast offshore oil and natural gas resource potential – nearly 50 billion barrels of oil and more than 200 trillion cubic feet of natural gas. We say potential because these areas represent the 87 percent of America’s federal offshore acreage that has been closed to exploration and development, dwarfing the areas where development is allowed.
Nonetheless, what’s visible is the profile of an offshore energy giant, an offshore superpower. This is energy muscle waiting to be flexed. These are resources that could benefit Americans in terms of energy security, as more oil and natural gas is safely and responsibly produced right here at home, as well as job creation and economic stimulus.
That’s what energy superpowers do. They develop their resources to increase their security in a world where secure energy is fundamental to overall security. They develop their resources to fuel economic growth and to help ensure the prosperity of their citizens.