Posted June 16, 2014
With the Interior Department turning its attention to the next five-year offshore leasing plan, here’s a figure to keep in mind: 87 percent. That’s how much of our federal offshore acreage is off limits for energy development – and it’s costing us energy, jobs and economic growth.
Andy Radford, API senior policy advisor, set out some of the arguments for increasing access to energy reserves in the next five-year leasing plan during a conference call with reporters.
Posted May 5, 2014
Posted December 5, 2013
America’s vast offshore energy reserves present an opportunity to improve our economy, increase our energy security and create tens of thousands of jobs. According to a new study, opening the U.S. Atlantic Outer Continental Shelf (OCS) to offshore oil and natural gas development could turn that opportunity into reality. API’s Director of Upstream Erik Milito and the National Ocean Industries Association’s Randall Luthi outlined the study for reporters today. Milito:
“Oil and natural gas production off our Atlantic coast is a potential gold mine. Developing oil and natural gas in the Atlantic could put hundreds of thousands of Americans to work, make us more energy secure, and bring in needed revenue for the government. But none of these benefits will appear unless the federal government follows pro-development energy policies.”
According to the study, oil and natural gas development in the Atlantic OCS between 2017 and 2035 could:
- Create nearly 280,000 new jobs along the East Coast and across the country.
- Result in an additional $195 billion in new private investment.
- Contribute up to $23.5 billion per year to the U.S. economy.
- Add 1.3 million barrels of oil equivalent per day to domestic energy production, which is about 70 percent of current output from the Gulf of Mexico.
- Generate $51 billion in new revenue for the government.
Posted November 26, 2013
API is partnering with the National Ocean Industries Association and the Independent Petroleum Association of America in an effort to warn of a provision in a water development bill (S.601) that could limit future offshore oil and natural gas activity.
In a letter to members of a House-Senate conference committee considering the legislation, the three groups cite a portion of the bill that would create a National Endowment for the Oceans – which the groups argue could result in “additional and unnecessary authority over ocean resources.” The groups write that regulations already exist to manage those resources.
Posted October 22, 2013
Domestic oil and natural gas development is a key driver of America’s economy and global energy security, API’s director of upstream and industry operations Erik Milito told reporters yesterday. Access to offshore resources currently off-limits in the Atlantic, Pacific and Eastern Gulf of Mexico could supply even more of the energy and jobs Americans need. Milito:
“Americans are eager to put more of our offshore energy resources to work. If exploration and development is allowed to safely expand to new areas, domestic oil and natural gas could provide more energy, jobs and government revenue than ever before.”
Posted July 8, 2013
Reason - The Top Five Lies About Fracking
Science writer Ronald Bailey highlights five falsehoods about hydraulic fracturing, from flaming faucets to water contamination. “Over 500,000 gas wells are currently operating in the United States,” Bailey writes. “Most of them manage to avoid blowing up houses, poisoning drinking water, making it hard to breathe, causing cancer...”
Fuel Fix Blog – Oil to Flow Through Keystone XL’s Southern Leg This Year
While the northern leg of the pipeline is going on five years waiting on approval from the Obama administration, the southern portion of the project is nearing completion. By the end of the year, the pipeline is expected to carry up to 700,000 barrels of oil per day from Cushing, Okla., to the coast of Texas.
Posted April 26, 2013
Take a look at the map below, one we’ve used before to show the vastness of America’s offshore oil and natural gas reserves – the overwhelming majority of which (in red) that’s off-limits for development.
Jane Van Ryan
Posted January 4, 2011