The gloves have come off as environmental activists push hard on local governments to enact resolutions opposing offshore energy exploration in SC. They are even opposing the safe, new mapping of resources so we can know what’s actually off our coast! This is no surprise to those who have watched misleading campaigns to stop the Keystone Pipeline, drilling on Alaska’s North Slope and countless other job-creating American energy projects.
Today, Palmetto Promise Institute (formerly Palmetto Policy Forum) President Ellen Weaver joined U.S. Representative Jeff Duncan and others at a press conference to announce the launch of OffshoreOpportunity.com, a new online resource dedicated to educating South Carolinians about the potential of offshore energy development. The press conference was held in conjunction with a meeting convened by the federal Bureau of Ocean and Energy Management (BOEM) to solicit feedback from South Carolinians on the issue of offshore exploration.
As we continue to advocate offshore energy exploration because of the huge opportunities it could create for SC, there are also many important questions we need to answer. Tough questions that deserve hard thought as we decide what’s the very best policy for our state. Below are some of the most pressing of those questions, and our answers.
Looking to pay another $417 a year on your energy costs? How about South Carolina losing over 14,000 jobs? That’s exactly what newly proposed EPA regulations could cost the Palmetto State.
Gas prices fell to an average of $1.86 per gallon last week in South Carolina according to AAA, providing us with a little extra cash in our pockets. That’s great news indeed…but we had better not get used to it. The Environmental Protection Agency (EPA) is in the process of implementing three rules that a new study by the Beacon Hill Institute at Suffolk University and Palmetto Promise Institute says will substantially drive up the cost of energy in South Carolina.
South Carolina has two major ports that would likely play a prominent role in offshore oil and gas production. The Port of Charleston is one of the busiest and most efficient ports in the nation. The Port of Georgetown, a dedicated break bulk and bulk facility, handles large volumes of cement, metals, and petroleum coke. Using the multipliers for economic impacts on ports implies that offshore oil and gas development would create more than 900 jobs for these ports in 2035 under the high production scenario.
Good decisions start with separating fact from fiction. Get the facts about how offshore energy exploration works…and what it would mean for South Carolina’s economy and environment.
On July 18, 2014 the Bureau of Ocean Energy Management (BOEM), a division of the U.S. Department of the Interior, announced that it would allow for modern surveys of the Mid- and South-Atlantic coast to update 40-year old data on offshore petroleum resources. This type of advanced seismic mapping will yield a far more accurate picture of offshore oil and natural gas reserves than what is currently available. The BOEM announcement could present significant opportunity for South Carolina, perhaps as soon as 2018.
What would offshore energy exploration mean for South Carolina in terms of potential revenue, economic development and jobs? What would it mean for our tourism industry and beautiful coast? These questions and more are explored in our groundbreaking report SC’S Offshore Opportunity: Economic & Environmental Impacts of Atlantic Energy Exploration. Learn more at www.OffshoreOpportunity.com.