Offshore Energy
South Carolina’s offshore oil and natural gas resources can increase energy security and drive new jobs. These resources can also add billions of dollars in revenue to fund schools, roads and other much-needed services.
Looking out along the South Carolina coastline, one sees endless waves. The ocean waters hold a rich treasure which can help ensure America’s energy security. The oil and natural gas in the 7.2 million acres off the coastline of South Carolina would create thousands of new jobs and add billions to state and federal coffers.
ICF International estimates, based on the latest seismic and drilling technologies, there are more than 761 million barrels of oil and more than 3.5 trillion cubic feet of natural gas beneath the area off the shore of South Carolina.
Jobs on the Shores of South Carolina
The oil and natural gas industry today supports more than 68,000 jobs in South Carolina alone. These jobs add $4.3 billion to South Carolina’s gross state product, or 2.8% of its wealth.
Development of the oil and natural gas resources off the coastline would result in thousands of new well-paying jobs, add investments to the state, and potentially millions in state revenue. It would also help reduce our dependence on oil from nations who do not share our values or our interests.
With the advent of new technologies such as 3D and 4D seismic imaging, subsea technologies and more advanced drilling methods our nation can drastically increase the amount of recoverable resources more efficiently - and also create new, well-paying jobs for individuals.
But we must start now to develop these rich offshore resources by removing barriers such as the current offshore moratorium on development and create the jobs, revenues and energy security that South Carolina and our nation so desperately need.
