Atlantic OCS - $260 billion. Pacific OCS - $160 billion. Eastern Gulf OCS - $118 billion. Alaska OCS - $53.4 billion.
"Ultimately, the studies confirmed... opening the currently restricted areas would increase economic benefits, not only specifically for the coastal regions near the offshore development, but also nationally as well..."
"Interior should not be in the business of being an adversary. We should be in the business of being a partner,"
The shale revolution has altered geopolitical paradigms making the U.S. an ally of "all nations seeking energy security", according to Secretary of Energy Rick Perry.
Oil and natural gas aren't just fuels. They supply building blocks for pharmaceuticals; plastics in vehicle bodies... and complex composites in solar panels and wind turbine blades and nacelles. The USA was importing 65% of its petroleum in 2005, creating serious national security concerns. But fracking helped cut imports to 40% and the US now exports oil and gas.
A global energy group says booming production in the United States will meet most of the world's growth in demand for oil in the next few years.
The No. 1 overall message, non-OPEC supply growth is very, very strong, which could change the parameters for the oil markets in the years to come, led by the United States...
Rising U.S. shale oil production will overwhelm the nation's refining capacity, with three-quarters of the additional oil produced in the United States by 2023 shipped to Europe and Asia, according to a new study by consultancy Wood Mackenzie.
the higher cost means Virginia and North Carolina utility customers will pay more.
The job-creating, economy-boosting resurgence in U.S. natural gas and oil production shows no signs of slowing down.
