Bloomberg: Opening Areas for Offshore Drilling Would Add Output

Pacific_Barrels-01By Dan Murtaugh  Nov 19, 2014 10:30 AM ET

Opening the eastern Gulf of Mexico and the Pacific Ocean outer continental shelf would add 2.2 million barrels of oil equivalent a day to U.S. production by 2035, the American Petroleum Institute said in a report.

Allowing exploration would bring on new production in 2023, according to today’s report, prepared by Quest Offshore Resources Inc. for the API and the National Ocean Industries Association.

Full Story at Bloomberg