A coalition of corporate, energy and agriculture leaders presented a report Monday projecting that North Carolina could eventually reap $577 million a year from offshore drilling along the state's coast.
Members of the Southeast Energy Alliance made their case for drilling as lawmakers try to cope with a nosedive in state revenue.
"States along the Gulf Coast already get this money," said Larry Wooten, president of the N.C. Farm Bureau. "Why shouldn't we?"
The group's dollar figures, though, depend on the accuracy of federal estimates of oil and natural gas deposits and whether corporations choose to drill off the North Carolina coast.
"Any revenue estimates are wishful thinking under any scenario," said Molly Diggins, state director of the Sierra Club. "Nobody knows if North Carolina has commercially recoverable deposits off the coast."
The alliance contends that offshore drilling eventually could create 6,700 jobs and boost the state's economy.
The federal government is moving toward allowing new drilling leases, but states would have to agree to allow drilling off their coasts. Gulf states currently share royalties from federal leases, but the figures are modest: about $25 million shared among four states last year. (N&O)
Comments
Re: Report says drilling lucrative
July 28, 2009 - 4:09pm — bnartistThe Southeast Energy Alliance is a subgroup of the Consumer Energy Alliance which, according to it's own handout might better be described as the Producer Energy Alliance. Try find a consumer group in that list.
Re: Report says drilling lucrative
July 28, 2009 - 3:15pm — markjohnsonComment deleted for inappropriate content. MJ
Re: Report says drilling lucrative
July 28, 2009 - 2:25pm — cdtewGoshBox, the only natural resource being exploited right now is the
tag in Dome's HTML coding.
Seriously, save some for the rest of us.
Fine, let's make drilling about McCrory then
July 28, 2009 - 7:59pm — GiggleBoxLooks like somebody in the G.O.P. needs a J.O.B., huh Richard?
So what's next Pat spokesman? DOME wants to know?
Re: Report says drilling lucrative
July 28, 2009 - 1:49pm — GiggleBoxDoes campaign season start now Richard?
Reality check
July 28, 2009 - 1:43pm — scharrison"Gulf states currently share royalties from federal leases, but the figures are modest: about $25 million shared among four states last year."
And for some magical reason, North Carolina could expect 23 times as much money as those four states get. Riiight.
Re: Report says drilling lucrative
July 28, 2009 - 1:42pm — McCroryManagerPat McCrory was right.
Re: Don't get excited.....calm down....take it easy.
July 28, 2009 - 12:59pm — cdtewUnfortunately, GoshBox, you don't have the consistency of a political hack. Maybe you consider yourself Hyperopic?
Re: Don't get excited.....calm down....take it easy.
July 28, 2009 - 12:53pm — GiggleBoxIf I were a myopic political hack that would probably be funny. Possibly relevant.
Don't get excited.....calm down....take it easy.
July 28, 2009 - 12:48pm — domewatcherLet's not get too overly excited over this. You and I both know there will be no drilling off the coast of North Carolina!..........except for the drilling to set the pilings for the aquarium pier.
Re: Report says drilling lucrative
July 28, 2009 - 11:12am — dahedgehogI love when people say that NC should start modelling itself after Louisiana, Alabama and Mississippi!
GA won't let this happen
July 28, 2009 - 8:02am — Notsurewhere_NCAs long as the clowns on Jones St. remain in office drilling will not happen. Best chance of this happening is by a complete house cleaning in the 2010 and 2012 elections. Governor through the entire GA needs to be replaced. Term limits established. The entrenched circus clowns occupying the GA and Governors office all have there power bases located in coastal communities. Nothing that might disturb their tranquil environment and scenic views will occur. I have said for a long time, NC needs offshore drilling and in-state refinery capabilities. We are a major state, led by small town thinkers with several major military installations, banking centers, and research centers that is single threaded to a unstable oil and gas supply from the gulf. Each time something "that might occur" in the gulf region is mentioned, our gasoline costs skyrocket on speculation and the flow is disrupted. This state is a joke when it comes to realizing revenue potential that does not come in the form of a TAX, or upsetting a small minority of special interests.