News & Updates

A Prosperous Future for South Carolina Lies Offshore

Joining forces in a recent Op-ed, Vets4Energy Chairman and retired Rear Admiral William Schachte and Atlantic Energy Alliance President William Crowther present a strong case for offshore development on South Carolina’s coast.  Emphasizing the potential for economic growth in our state, they write:

According to the federal Bureau of Ocean Energy Management (BOEM), the OCS [Outer Continental Shelf] contains more than 4.7 billion barrels of oil and 37.5 trillion cubic feet of natural gas. Tapping into these energy stores could bolster South Carolina’s economy for years. Development of the OCS would create 35,000 jobs and foster $2.7 billion worth of economic activity for the state over two decades.

These are the sorts of steady jobs that pay enough to support a family — and won’t ever be outsourced. The average oil and natural gas industry job pays nearly $50,000 a year well above South Carolina’s $39,000 annual average.

Offshore investment benefits those working inland, too. Thanks to the increase in demand for oilfield equipment, experts predict that South Carolina’s manufacturing sector will attract large amounts of new revenue as much as $200 million a year by 2035.

Schachte and Crowther call for South Carolinians to recognize that this is the time to explore our coast’s resources. With an “economic renaissance” already beginning to blossom in our state thanks to our oil and natural gas industries, developing offshore energy could reinvigorate our state’s and nation’s economies and provide jobs and additional income for thousands!

The full Op-Ed can be read here.