Florida to benefit most from oil & natural gas production in eastern Gulf, report says
By Peter Schorsch on November 19, 2014
Florida stands to benefit more than any other state from oil and natural gas in the eastern Gulf of Mexico, says a new study released today by the American Petroleum Institute (API) and the National Ocean Industries Association (NOIA).
The NOIA/API joint study, named “Untapped Potential,” was produced by Quest Offshore Resources, Inc. It charted national and state-specific economic benefits on jobs, investment and government revenue.
According to “Untapped,” oil and natural gas production in the eastern Gulf could contribute significantly to Florida’s economy, with 85,000 jobs – 21,000direct and 66,000 indirect – and nearly $6.5 billion per year to the state GDP by 2035. Cumulative revenue from 2017 to 2035 could reach over $18.7 billion.
