The campaigning group Oceana has released a new report that finds offshore wind would produce twice the number of jobs and twice the amount of energy as offshore drilling in the Atlantic Ocean. We report on the allegations levelled at the two energy sectors.
The report, titled Offshore Energy by the Numbers, An Economic Analysis of Offshore Drilling and Wind Energy in the Atlantic, challenges recent claims by the Oil and Gas industry that opening the East Coast to offshore drilling will lead the United States to energy independence, generate millions of dollars in revenue for states and create thousands of jobs in the process.
Oceana’s analysis instead finds that the benefits projected by the industry appear to be exaggerated due to the inclusion of Oil and Gas resources that are not economically recoverable, thereby inflating the potential benefits. Industry estimates also rely upon an assumption of a state revenue-sharing system that does not exist.
“Our report compares economically recoverable Oil and Gas development to conservative estimates of offshore wind development to allow an ‘apples-to-apples’ comparison of the energy and jobs that would be created by each source,” said Andrew Menaquale, report author and energy analyst at Oceana. “The American public deserves to know the facts when it comes to expanding this dirty and dangerous practice to the East Coast, and what alternatives there are for clean energy generation.”
Oceana’s report also finds that offshore Oil and Gas development along the Atlantic could put at risk some of the nearly 1.4 million jobs and over $95 billion in gross domestic product that rely on healthy ocean ecosystems, mainly through fishing, tourism and recreation.
