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Energy Tomorrow Blog

Virginia Business Leaders Bullish on Offshore Energy

virginia  offshore development  economic benefits  business 

Mark Green

Mark Green
Posted March 29, 2018

Recent analysis of the potential economic benefits of offshore natural gas and oil, finding that coastal states and the nation could see billions in annual industry spending, job creation and federal revenue sharing dollars over a 20-year period, has the attention of leaders in one of those key states – Virginia.

A group of 21 Virginia businesses, associations and other organizations have written to federal officials in support of opening more of the U.S. outer continental shelf (OCS) to safe development. The comments were filed with the Bureau of Ocean Energy Management (BOEM), which is putting together a new federal offshore leasing plan that will blueprint development from 2019-2024. 

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Offshore Energy the ‘Golden Egg’ for Coastal States

offshore energy  economic benefits  north carolina  virginia  florida  south carolina  georgia 

Mark Green

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. 

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What They’re Saying About U.S. Offshore Energy

offshore energy  us energy security  north carolina  virginia  south carolina 

Mark Green

Mark Green
Posted February 27, 2018

A fact-based conversation about America’s offshore strategy is critically important as policymakers make decisions that affect all Americans. Underscore the words “fact-based conversation.” While there’s passion associated with this issue, emotion can get in the way of sound policy – which is what we need for America’s energy and national security. Our vast offshore oil and natural gas potential has strategic, long-term importance and should be addressed accordingly with all voices, not just the loudest ones, heard.

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The Offshore Energy Safety Imperative

offshore energy  offshore safety  offshore technology  bsee  north carolina  south carolina  virginia 

Mark Green

Mark Green
Posted August 10, 2017

As the Trump administration weighs opening the Mid-Atlantic outer continental shelf to future oil and natural gas development, a number of people who work and live in coastal areas appropriately question whether offshore energy can be developed safely, without undue risks. The answer is yes.

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Energizing Virginia

virginia  offshore energy  oil and natural gas  vote4energy  states2016 

Mark Green

Mark Green
Posted September 15, 2016

Virginia, like North Carolina to the south, is believed to host sizeable oil and natural gas reserves off its Atlantic Coast. According to federal estimates, the Mid-Atlantic offshore area (also including Maryland and North Carolina) could hold 2.41 billion barrels of oil and more than 24 trillion cubic feet of natural gas. Development of those resources could turn Virginia into an energy powerhouse.

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Energizing West Virginia

west virginia  vote4energy  natural gas  fracking  climate  states2016 

Mark Green

Mark Green
Posted August 30, 2016

Used to be, when you thought of West Virginia and energy, you thought of coal. Indeed, West Virginia remains a big coal producer, ranking No. 2 in the country (behind Wyoming) in 2014 U.S. Energy Information Administration (EIA) statistics. But the U.S. energy renaissance – driven by advanced hydraulic fracturing and horizontal drilling – has the state’s natural gas production skyrocketing, with benefits to the state and the entire country.

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Stand Firm in Support of U.S. Energy Renaissance

natural gas  climate  offshore energy  virginia  access  emission reductions 

Mark Green

Mark Green
Posted August 17, 2016

Politicians’ issue positions are scribbled in sand, not granite, right? But here’s one that shouldn’t shift one bit – whether you’re a Democrat, Republican, an Independent or whatever: support for domestic natural gas and the hydraulic fracturing that’s producing record volumes of it. Thanks to fracked natural gas the United States leads the world in reducing carbon emissions, we're more energy secure and consumers are benefiting. No issue is more bipartisan than American-made energy – the natural gas and oil that primarily fuel our economy and our modern lifestyles, brought to us all by safe, responsible fracking.

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Energizing West Virginia

analysis  west virginia  energy development  income  ozone regulations  oil and natural gas development  wood mackenzie  pricewaterhousecoopers 

Reid Porter

Reid Porter
Posted July 9, 2015

Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with West Virginia. We started our focus on the state level with Virginia on June 29 and continued this week with Missouri, Indiana and North Carolina. 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.

Information covered in this series can be found online here, arranged on an interactive map of the United States. State-specific information will be populated on this map as the series continues. 

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Energizing Virginia

analysis  virginia  income  oil and natural gas development  regulations  energy  wood mackenzie  pricewaterhousecoopers 

Reid Porter

Reid Porter
Posted June 29, 2015

Here on the blog we regularly point to the national economic and job impacts of energy development: 9.8 million jobs supported, and $1.2 trillion in value added to the economy – accounting for 8 percent of our national GDP. Over the next few weeks we want to bring the focus to the state level, highlighting those impacts in each of the 50 states. We’ll start with … Virginia.

The top-line numbers: more than 141,000 jobs supported statewide, according to PwC ; $12.5 billion added to the state economy; $7.2 billion contributed to the state’s labor income. All are significant drivers for the state’s economy.

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Energy – Supporting America’s Strategic Vision

news  energy exports  crude oil  shale energy  climate change  electricity  virginia 

Mark Green

Mark Green
Posted May 28, 2015

Time: As the battle wages on in Congress over President Barack Obama’s signature trade agreements and the needed fast-track trade promotion authority (TPA), the president would be wise to consider alternatives that would enhance his trade legacy and also further our strategic priorities overseas. While energy is not included in the Trans-Pacific Partnership (TPP) or Transatlantic Trade and Investment Partnership (T-TIP) negotiations, many of the same Asian, European, and Latin American partners are calling for greater partnership with the United States on energy issues. By allowing the U.S. to become a stable source of supply to global energy markets, counteracting supply disruptions that will inevitably affect other energy-rich regions, President Obama and Congress can double down on promoting long-term economic growth and reinforcing U.S. foreign policy leadership.

The U.S. can do more with its energy resources to support this strategic vision. A direct way of leveraging this opportunity is to lift the ban on the export of crude oil and accelerate approvals for the export of liquefied natural gas (LNG). A series of policies and laws in the 1970s banned exports of U.S. crude oil with only limited exceptions. This ban is a relic from an age of energy scarcity and should be adjusted to reflect present realities. By working with Congress, and via executive order, the president can start taking steps today to boost U.S. exports.

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