for those interested...here is some info i pulled off the internet:
Marvin Odum, president of Shell Oil Co., warned against being "lulled again into complacency" because of low oil prices. He said access to oil and natural gas off the Atlantic and Pacific coasts will help meet future energy challenges.
And the executives said states and the federal government would reap billions of dollars in new royalties and fees
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Congress last October ended the broad drilling ban across 85 percent of federal offshore waters from New England to the Pacific Northwest. But the Obama administration has shown little interest in pushing new leases
The Interior Department has estimated that waters off the Atlantic and Pacific coast and in the eastern Gulf of Mexico, which for a quarter century were off limits, contain about 18 billion barrels of oil.
AEA Says United States Can Drill for Jobs
Source: United Press International
Publication date: 2009-02-23
The American Energy Alliance said lifting the U.S. prohibition on new offshore drilling would provide 1.2 million jobs and substantial revenue.
In a statement ahead of the U.S. House of Representatives Natural Resources Committee hearing scheduled for Tuesday on the issue of offshore drilling, the AEA said opening the Outer Continental Shelf to drilling would provide a total of $2.2 trillion in tax receipts and $70 billion in wages each year.
"Increased offshore activity would fuel our economy without squandering taxpayer funds," AEA President Thomas Pyle said in a statement.
"In fact, oil and gas is one of the U.S.'s only industries in a position to put money into, rather than take money out of, the government's piggy bank," Pyle said in a statement.
Citing an estimated 3 million jobs losses expected in the current recession through 2009, "this nation cannot afford to allow Congress to pass up the opportunity to tap into the OCS and its rich energy resources," Pyle said.