January 24, 2018 — When President Trump’s administration announced plans earlier this month to reconsider drilling off the Atlantic coast, officials and community leaders up and down the Jersey Shore began digging in for a fight they thought they’d won in 2016. Here are the basic facts behind the plan and the reasons why so many groups are against the proposal.
Trump’s Interior Secretary Ryan Zinke proposed opening nearly all federal waters to offshore drilling. The federal waters would be divided into sections and then the leases to those sections would be auctioned off to oil companies. Under the proposal, 25 of the government’s 26 planning areas would be opened up for 47 potential lease sales.
New Jersey would be part of the North Atlantic section, and leases for areas off the Jersey Shore would be auctioned off in 2021 and 2023.
“Responsibly developing our energy resources on the Outer Continental Shelf in a safe and well-regulated way is important to our economy and energy security, and it provides billions of dollars to fund the conservation of our coastlines, public lands and parks,” Zinke said in a press release announcing the plan.
Only one governor on the Atlantic Coast — Paul LePage of Maine, pictured above — has expressed approval of the plan. The Maine governor has said that he supports the plan because he believes it will bring jobs to his state and lower energy costs for Maine residents.
In a December 2013 report, the American Petroleum Institute — a group that advocates for the expansion of oil and natural development nationwide — estimated that offshore drilling could bring more than 8,000 jobs to New Jersey and bring in $515 million in revenue for the state government.
Oil and gas companies could stand to profit from drilling off the Jersey Shore, but only if they find enough oil out there.
The last offshore exploration near the Garden State was in the 1970s and 1980s, when companies like Texaco and Tenneco drilled wells near the Hudson Canyon, a little less than 100 miles east of Atlantic City.
According to reports filed with the Bureau of Ocean Energy Management, the exploration found no significant oil deposits and small amounts of natural gas reserves.
Technically yes, but the exploratory drilling of the 1970s and 1980s was the farthest that the process has ever gotten. No lease sales have occurred in the Atlantic since 1983.
In 2017, a BOEM assessment estimated that the Atlantic contained an between 1.15 billion and 9.19 billion barrels of oil, a fraction of the estimated 76.69 billion to 105.59 billions barrels throughout all federal waters. According to the same assessment, the North Atlantic is estimated to hold between 0.06 billion and 5.11 billion barrels.
Read the full story at the NJ.com