Offshore Oil Drilling: Myth vs.

Fact

Overview What Oceana Does Victories Learn & Act News & Reports

Myth: Expanding offshore drilling will drastically cut foreign oil imports.
Fact: y co!pletely "eveloping o#r oceans for oil e$traction% the Depart!ent of &nergy esti!ates that oil i!ports wo#l" 'e re"#ce" 'y a !ere (.)* in (+,+% at which point we will have 'eg#n e$ha#sting o#r offshore potential.

Myth: Expanding offshore drilling will significantly lower gas prices.

Fact: -he Depart!ent of &nergy esti!ates that opening all of o#r oceans to oil "rilling wo#l" have no effect on gas prices 'y (+(+% an" !ay res#lt in a negligi'le .three/cent/per/gallon0 "ecrease in gas prices 'y (+,+% at which point we will have 'eg#n e$ha#sting o#r offshore potential.

Myth: Expanding offshore drilling will create jobs.

Fact: Drilling for oil off the Atlantic coast wo#l" threaten h#n"re"s of tho#san"s of e$isting 1o's an" wo#l" not g#arantee l#crative e!ploy!ent. 2onversely% each "ollar investe" in clean energy can create three ti!es as !any 1o's as investing in tra"itional f#els% an" co!es witho#t the ris3 of a 1o'/shre""ing oil spill.

Myth: Expanding offshore drilling will save state budgets.

Fact: Atlantic states are not g#arantee" to see any reven#e fro! new offshore oil "rilling% as !ost politicians want to #se the !oney to alleviate fe"eral "e't. 4ronically% even what the fe"eral govern!ent ta3es in is '#t a fraction of what they give away to the oil in"#stry in s#'si"ies each year.

Myth: Offshore drilling is environmentally safe.

Fact: -he Deepwater Drilling Disaster is an e$tre!e e$a!ple of a relatively co!!on occ#rrence. -here have 'een at least eight other spills of )+%+++ gallons or !ore since (++). 4n a""ition% offshore "rilling rigs can "#!p tons of oily "rilling fl#i"% to$ic !etal c#ttings an" carcinogens into the ocean si!ply fro! nor!al operations.

Myth: We should develop all our energy options including oil gas and renewable resources.
Fact: An 5all of the a'ove6 energy approach threatens o#r econo!y% environ!ent% an" national sec#rity. -he 7nite" 8tates has too few oil reso#rces to !eet o#r energy nee"s. F#rther invest!ent in offshore "rilling wo#l" contin#e o#r a""iction to oil% s#'1#gating cons#!ers to wil" price increases while e$acer'ating cli!ate change% perpet#ating the ris3 of catastrophic spills% an" f#rthering o#r "epen"ence on foreign oil. A""itionally% offshore oil rigs re9#ire !#ch of the sa!e scarce e9#ip!ent an" e$pertise necessary to raise offshore win" far!s% a fact which has alrea"y sty!ie" installations of offshore win" in &#rope.

Myth: !enewable energy resources cannot replace oil and gas.

Fact: Renewa'le energy reso#rces are alrea"y replacing oil an" gas. 2#rrently% renewa'le reso#rces generate !ore than :+* of the 7nite" 8tates; electricity an" provi"e the e9#ivalent of !ore than five 'illion gallons of gasoline for transportation ann#ally.