by Sean Hackbarth
Dec 6, 2013
Offshore energy production has been declining for years. Bad policies have made 86% of the U.S. coast off-limits to safe development. That has inhibited job creation and economic growth, but better policies can reverse this.
A new study, produced by Quest Offshore for the American Petroleum Institute (API) and the National Ocean Industries Association (NOIA), finds that opening the Atlantic outer continental shelf (OCS) to oil and natural gas exploration will add $23.5 billion annually to the economy by 2035 and create 280,000 jobs.