Richmond, VA – Today, the Senate Commerce and Labor Committee of the Virginia General Assembly voted to change the commonwealth’s policy on offshore energy development to include both oil and natural gas. The previous position of the Commonwealth only provided for the development of natural gas.
“Today’s vote is a step in the wrong direction for Virginia. This is another instance of false promises and misinformation on a critical issue for the Commonwealth,” said Environment Virginia Advocate J.R. Tolbert. “At a time when we should be passing legislation in favor of clean energy, this vote deepens our addiction to fossil fuels.”
Proponents of the legislation make the claim that production of Virginia’s offshore resources will increase energy independence, but Environment Virginia states that this claim is tenuous at best. The group points to Minerals Management Services, the agency that oversees the nation’s offshore drilling program, data that estimates that only six days of U.S. oil and 18 days of gas consumption at current rates exist off Virginia’s coast.
The group also takes issue with the assertion that drilling off Virginia’s coast will generate new revenue for the Commonwealth’s already strained budget. Environment Virginia points out that federal law does not provide for revenue sharing from oil development off of Virginia’s coast, and even if the federal regulations were changed to allow revenue sharing Virginia would not see any money from revenue sharing until 2020 or later due to how long it will take for Virginia’s oil to come to market.
“The fact of the matter is that those who call for drilling off Virginia’s coast do so on shaky ground. Claims that Virginia can be a leader in offshore energy resources do not hold true when looking at the facts, and rushing to drill off our coast for budget reasons is simply misguided,” continued Tolbert.
More concerning to Environment Virginia is the risks to Virginia’s existing economy posed by oil drilling. The group points to major and minor oil spills in Australia and off the coast of Texas in the past 12 months to make the case that drilling is a dangerous and dirty business.
“Virginia has a vibrant coastal economy that depends on tourism and fishing associated with clean oceans and beaches. It makes no sense for Virginia to risks the more than $4 billion that these industries bring to our local economy for the unproven promises of offshore drilling,” concluded Tolbert.
