Rigzone- Studies Highlight Job, Economic Potential of Expanding US Offshore Leasing

PC_ContibutionsEconomy-01by Karen Boman| Rigzone Staff| Wednesday, November 19, 2014

The United States could create almost 840,000 jobs and generate more than $200 billion in government revenue by opening the eastern Gulf of Mexico and U.S. Atlantic and Pacific Outer Continental Shelf (OCS) to offshore oil and natural gas leasing, according to the findings of three energy industry group studies.

Two studies released Wednesday by the American Petroleum Institute (API) and National Offshore Industries Association (NOIA) highlighted the economic potential that could be realized by adding these areas to the federal government’s next five-year leasing program. Currently, 87 percent of federally controlled offshore acreage is off-limits to offshore oil and gas development.

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