The Economic Contribution of Increased Offshore Oil Exploration and Production to Regional and National Economies

The American Energy Alliance (AEA) recently released a new study that reveals the extensive short-term and long-term economic benefits Americans stand to gain if Congress permanently lifts the moratoria on energy exploration and production in the Outer Continental Shelf (OCS). According to the analysis, over the life of the production offshore, access to these vast resources would generate: 

• $8 trillion in additional economic output (GDP);
• $2.2 trillion in total tax receipts;
• 1.2 million new, well-paying jobs annually across the country; and
• $70 billion in additional wages each year.

Read the study.

Read the summary.