New study says Delaware can benefit from offshore drilling with minimal environmental impact

It’s no secret that the CRI believes that it’s time for America to take advantage of off-shore drilling, and there is now some support for their position that Delaware should be part of that energy future.

A new study by Dr. Timothy Considine, Distinguished Professor of Energy Economics, in conjunction with the Interstate Policy Alliance, published on the merits of offshore drilling should act as a conversation starter about drilling for oil and gas off the Atlantic coast.

Depending on production levels Delaware might see between 1,000 to 6,000 jobs created. The project could generate between $90 and $500 million in royalties and taxes to state coffers over the first ten years of production. The potential to safely drill for oil of Delaware’s coast has the potential to offset Delaware’s loss in corporate income and personal income taxes.

You can read the full study here:
Economic and Environmental Impacts of Oil and Gas Development
Offshore the Delmarva, Carolinas, and Georgia (PDF)

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