Photo Credit: bseegov/Flickr
Manufacturers use one-third of the energy consumed in this country and depend on a secure, affordable, reliable mix of energy resources to remain competitive. Access to and responsible development of our offshore energy resources is therefore vitally important. Manufacturers support expanded access to the OCS and greatly appreciate the administration’s planned action to increase the areas available for leasing. The future of a strong manufacturing sector is inextricably linked to energy access.
Over the past decade, the United States has become the largest oil and natural gas producer in the world, benefitting consumers across the country. New technologies to produce oil and gas are fueling a manufacturing comeback, particularly in energy-intensive sectors, which use these fuels for energy and as feedstock for a wide range of industrial and consumer products. Energy resources in these areas can and should be developed responsibly, but with 86 percent of our offshore resources unavailable for development—or even seismic analysis—it is clear that America could be producing much more.
Manufacturers support safe, responsible evaluation, leasing and drilling activities in the OCS, which would generate lower energy and feedstock costs and make manufacturers more competitive. Studies by Quest Offshore Resources, Inc. show that offshore oil and natural gas leasing in the Atlantic OCS, Pacific OCS and Eastern Gulf of Mexico could, by 2035, result in increased production in the amount of 3.5 million barrels of oil equivalent per day, support 840,000 new jobs and generate more than $200 billion for state and federal governments.
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