Report: Atlantic Drilling Would Offer $0 To States, Not $19 Billion

by SAMANTHA PAGE – The global community agreed last week that carbon emissions are destroying our environment. A massive oil spill five years devastated the Gulf of Mexico’s ecosystem. And yet, the Obama administration and several southern governors are talking about drilling for oil off the Atlantic coast. But a new report from the Center for a Blue Economy suggests that the southern Atlantic states — Virgina, North Carolina, South Carolina, and Georgia — would see little to no benefit from offshore drilling, while putting a critical piece of their economies and lifestyles at risk. The report, commissioned by the Southern Environmental Law Center (SELC), looked at a 2013 industry report commonly used to justify offshore drilling and found that it is based on outdated assumptions — including a price of oil roughly triple what it currently is. The 2013 Quest Offshore report, prepared for the American Petroleum Institute and the...

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