(billion barrels — Bbl and trillion cubic feet — Tcf)
America must pursue smart energy policy in order to continue as a global energy superpower. The U.S. Outer Continental Shelf (OCS) is estimated to contain vast undiscovered oil and natural gas resources. Unfortunately, the federal government has placed most of the OCS off-limits to energy exploration and development.
The Bureau of Ocean Exploration and Management (BOEM) estimates that 89.9 billion barrels of oil and 404.6 trillion cubic feet of gas have yet to be discovered on the U.S. OCS.
Unfortunately, some of BOEM’s estimates are 30 years old. If Congress permits the use of state-of- the-art seismic surveying technology in largely unexplored areas of the Atlantic OCS, we may discover an even greater abundance of oil and natural gas.
Developing these oil and natural gas resources will be vital to achieving energy security, growing our economy, and reducing government deficits.
Studies by Quest Offshore Resources, Inc. show that offshore oil and natural gas leasing in the Atlantic OCS, Pacific OCS and Eastern Gulf of Mexico could, by 2035:
With over 65 years of experience operating in the Outer Continental Shelf, the oil and natural gas industry has a strong safety record, despite a work environment that often involves heavy equipment, hazardous materials, high temperatures and high pressures. Safety is our top priority, and we are constantly improving the technologies, standards and best practices, and programs that protect our workers and our environment.
America must pursue smart energy policy in order to continue as a global energy superpower
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
Jobs are not isolated to the oil and natural gas companies; a diverse spectrum of industries from retail to real estate, from marine services in Virginia to high tech manufacturers in North Carolina and South Carolina will benefit.
98% of the Eastern Gulf of Mexico planning area is under a congressional leasing moratorium until 2022, putting nearly all of the area’s 64.5 million acres off limits to oil and natural gas development
More than 240 million acres are currently off limits to oil and natural gas development. If access were provided to these areas it could launch a flurry of investment and economic activity
Policy makers need to embrace an ‘all of the above’ energy approach that leverages our offshore resources in Alaska to create an energy plan for America that boosts, rather than inhibits, our economy
In order to ensure our energy security and create economic growth it is vital that we take advantage of all of our energy resources, including those safely developed in American waters
When oil and natural gas companies are allowed to look for oil and natural gas: They find it, and the statistics become more than just guesses or estimates
Seismic surveys use compressed air to create sound waves that reflect back to the surface
Marine seismic exploration is carefully regulated by the federal government and managed by the operator to avoid impacting marine animals
This well-established process helps to balance the nation’s need for energy with strong environmental safeguards
Exploration is not a risk-free proposition, but it is an essential part of the energy business
The energy America produces offshore today is only possible because of decisions made over several decades by both regulators and the private sector
Delivering offshore energy to the American people is safer than ever as a result of industry’s leadership and continuous investments in safety
There are different types of drilling facilities, based on the depth of water
There are different types of production facilities, based on the depth of water
The deeper the water, the more technologically advanced the equipment must be
The search for resources deep below the ocean has spurred tremendous technological innovation, including the ability to produce and transport these resources using equipment installed on the floor of the ocean
More than 99.9995% of the oil produced, refined, stored and/or transported in the United States reaches its destination safely and without incident
Deepwater Horizon Containment and Response: Harnessing Capabilities and Lessons Learned
Spill prevention, intervention and response capabilities
Drilling safety, well containment, and spill response
Energy Tomorrow is a project of the American Petroleum Institute – the only national trade association that represents all aspects of America’s oil and natural gas industry – speaking for the industry to the public, Congress and the Executive Branch, state governments and the media.