American Petroleum Institute issued the following announcement on Feb. 21.
Virginia Executive Director Miles Morin emphasized the opportunities that exploring offshore energy resources can bring to Virginia’s economic and energy future prior to today’s Bureau of Ocean Energy Management public hearing on the Interior Department’s proposed five-year offshore natural gas and oil leasing plan.
“Interior’s offshore proposal is a critical first step to advancing a strong energy future for Virginia. Not only can offshore energy exploration and development help provide reliable and affordable energy for Virginia’s consumers, but it can also be the cornerstone for economic growth and investments in our state,” said Morin.
“It’s a first step because we don’t have a clear picture of what energy resources exist off the coast of Virginia, as the Atlantic Outer Continental Shelf hasn’t been explored for more than three decades. Over the last decade, however, industry has developed advanced technologies that enhance the safety of exploring the ocean – minimizing harm to marine life and the ocean environment. There is also a long track record of operating offshore in a way that doesn’t interfere with our military activities. This will allow us to accurately determine what our energy resources are and analyze what steps should be taken to secure our energy future.”
“Safely producing our offshore energy resources also strengthens our national security and makes the U.S. more energy secure. Virginians could also see increased revenue to invest in priorities like public education and infrastructure, and more well-paying jobs means more money being spent at shops, restaurants and businesses around the state. Higher paying jobs and investments in the state can also go hand-in-hand with offshore energy production – a benefit that should be welcomed by our communities.”
The Virginia Petroleum Council is a division of API, which represents all segments of America’s oil and natural gas industry. Its more than 625 members produce, process, and distribute most of the nation’s energy. The industry also supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. Learn more at www.api.org.
Original source can be found here.
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