Offshore Exploration Needed | Eastern NC Now

News Release:

    When I ran for the U.S. Senate last year, I promised North Carolinians I would fight for common-sense policies that create opportunities for hardworking taxpayers. I have repeatedly stressed the need for both parties in Washington to work together to pursue an "all the above" strategy to unleash America's untapped energy resources to spark both job creation and technological innovation.

    It's clear to me that Washington has failed the American people by not establishing a long-term plan for energy independence, which prevents our economy from reaching its full potential. We remain dependent on foreign sources of energy, particularly oil from Middle Eastern countries that share neither our democratic values nor our national interests. This has weakened America on the global stage, especially in dealing with ongoing aggressive geopolitics by Russia, Iran and other nations.

    Make no mistake, while gasoline prices are presently at their lowest point in years, families across the country know all too well how quickly energy prices can rise and fall based on events outside America's borders. Dependence on foreign energy sources places our economy at constant risk. Hardworking taxpayers literally pay the price of Washington's failure to establish a real, long-term energy policy with higher utility bills and higher prices for almost every commodity, not to mention expensive trips to the gas station. Walling off our nation's huge energy resources and preventing them from being used to expand domestic oil and natural gas production exponentially increases the risk that energy prices could skyrocket at a moment's notice.

    Last week, I acted on my promise to pursue common-sense solutions for our economy by joining with Sen. Richard Burr to propose "The Atlantic Outer Continental Shelf Access and Revenue Share Act of 2015," to allow the federal government to open up natural gas and oil reserves off the Atlantic coastal states, including North Carolina, to exploration and production.

    The economic impact this legislation would have on our state and the nation as a whole is profound. A recent study conducted by Quest Offshore Resources found that offshore development of natural gas would create 55,000 jobs for North Carolina alone by 2035, and generate nearly $4 billion in royalty revenue for the state. This would make it possible to cut taxes for middle-class families, invest more in our children's education or improve our transportation infrastructure.

    While enhancing economic growth, the legislation will also preserve our beautiful coastal views and protect the tourism industry surrounding it by prohibiting any energy exploration within 30 miles of the nearest shore. Additionally, existing federal law already requires that any energy exploration be conducted with the least impact on land, sea, coastal and human environments.

    I promised North Carolinians I would act to help Washington and the nation get running again. It's long past time for America to start realizing its full energy potential and economic benefits from the vast untapped energy reserves off our shores. Sen. Burr and I offered a common-sense, pro-jobs proposal to move Washington past talking about energy production to doing something that will finally produce results for the American people.

    Contact: Daniel Keylin
          Daniel_Keylin@tillis.senate.gov  •  (202) 224-6342