Energy Tomorrow Blog
Tax Revenues From Offshore Energy Will Benefit States, Studies Find
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Mark Green
Posted November 19, 2018
As we wait for the Trump administration to unveil the next federal offshore leasing program, which will guide offshore natural gas and oil development the next five years, new studies affirm what we’ve been saying about the economic boost outer continental shelf (OCS) leasing could give to coastal states – in the form of cumulative tax revenues over a 20-year forecast period. …
Individually, each state is looking the potential for big numbers and big benefits across the entire state. They follow studies earlier this year finding that through offshore leasing these states together could see billions in projected industry spending and the creation of hundreds of thousands of jobs.
Offshore Energy the ‘Golden Egg’ for Coastal States
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Mark Green
Posted March 23, 2018
Safely tapping America’s offshore natural gas and oil reserves could provide billions of dollars for the economies of coastal states – a big reason why the needs and voices across entire states, not just their coastal areas, must be considered in the offshore energy conversation.
For example, federal revenue sharing could help transform state economies by sending billions in royalties, rentals and fees to state coffers. By putting revenue-sharing programs in place – like those already working for the states of Alabama, Louisiana, Mississippi and Texas – North and South Carolina, Virginia, Florida, Georgia and other states could benefit from offshore energy development.
Energizing Georgia
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Mark Green
Posted August 17, 2016
Georgia is another good example of an all-of-the-above energy state. As an energy producer, Georgia has more nuclear electric power than any other energy source. At the same time, natural gas is the state’s leading fuel for generating electricity, accounting for 40.2 percent of its net generation in 2015. As a heavily forested state, Georgia produces large volumes of feedstock for biomass electricity generation, ranking third in net electricity from biomass in 2014. It truly takes an all-of-the-above energy approach – including oil and natural gas, nuclear, renewables – to energize a state and a country.
Energizing Georgia
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Reid Porter
Posted August 27, 2015
Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Georgia. We started the series with Virginia on June 29 and began this week with a review of Kentucky, Tennessee and Utah. All information covered in this series can be found online here, arranged on an interactive map of the United States. State-specific information across the country will be populated on this map as the series continues.
As we can see with Georgia, the energy impacts of the states individually combine to form energy’s national economic and jobs picture: 9.8 million jobs supported and $1.2 trillion in value added.