In 2017, API commissioned a series of regional economic studies by Calash and Northern Economics to provide independent evaluations of the potential impacts of the development of America’s offshore oil and natural gas resources in the OCS, if the current restrictions were lifted.
Some of the richest energy reserves in the world are just off our US shores waiting to be discovered in a government owned area lying just 3 - 200 miles out to sea. An advanced exploration technique called seismic surveying is the first step to unlock this precious resource needed to ensure America's energy security.
Hearing to receive testimony on the Well Control Rule and other regulations related to offshore oil and natural gas production.
Impacts to the Offshore Oil and Natural Gas Industry from the Proposed Modification & Revocation of Jones Act Rulings by CBP
The Customs and Border Protection Agency recently proposed modifications to its rulings related to the use of Jones Act vessels in offshore oil and natural gas activity that could have significant impacts on U.S. energy production. According to a the Calash economic report, the impact of these proposals include the potential for significant loss of American jobs, reduced U.S. oil and natural gas production, and diminished revenues for federal and state government. It’s important that these proposed changes to the rulings be immediately withdrawn in order to protect U.S. energy security and allow for consumers and businesses to continue benefiting from America’s energy renaissance.
Surveys conducted by Harris Poll January 22 – February 1, 2016 of Virginia, North Carolina and South Carolina voters show strong, broad support for domestic oil and natural gas production, including offshore, as a means to stimulate the economy, create jobs, increase U.S. energy security, and provide additional government revenues.
Offshore, a form of sand control technology has been in commercial use since the early 1990’s. Offshore sand control technology combines two mature oil and gas technologies – hydraulic fracturing and gravel pack completions. The result has been a significant improvement in well life and reliability, productivity, and oil and gas recovery.
The oil and natural gas industry and the federal government have together taken great strides to enhance the safety of offshore drilling operations.
Important officials such as U.S. Senator Marco Rubio of Florida, Governor Mark Warner of Virginia, and Governor Pat McCrory of North Carolina are supporting offshore oil and natural gas developing in the Atlantic.