OIL SUPPLY: OCS Drilling: Virginia Has Lost a Year

STAUNTON As debates about climate change and health care engulf America, we cannot overlook a recent anniversary marking one lost year and counting. When Congress let expire the moratoria on oil and natural gas exploration in coastal waters, the economic possibilities of new jobs, trillions of revenue dollars, and bolstered energy security were finally within national reach. But thanks to governmental slow-pedaling, America now greets the anniversary of this major policy change with nothing but outturned pockets and continued delay.

During our year of inaction, more than 200 oil and natural gas discoveries have been reported across five continents, in countries including Australia, Brazil, Norway, and Ghana. Just for the first half of this year, according to HIS Cambridge Energy Research Associates, those new discoveries have totaled about 10 billion barrels of oil.

The development of America's vast domestic oil and natural gas resources that had been kept off-limits by Congress for decades could generate $1.7 trillion in revenue for federal, state, and local governments. According to an ICF International study, domestic development could also create thousands of well-paying jobs. Despite government intervention, unemployment is still rising. Domestic exploration could enhance America's energy security and help solve our economic problems.

On the local level, Virginia has an unprecedented opportunity to be the first state along the Atlantic to benefit from the development of offshore oil and natural gas resources. Should this happen, the commonwealth stands to gain more than 1,888 new jobs if these areas were developed. It's the type of solution the state needs to overcome its 6.9 percent unemployment rate.

Offshore development in Virginia could also generate $19.5 billion in federal, state, and local revenues. Over the life of the resource, ICF International estimated that Virginia's share of production from the Outer Continental Shelf could total half a billion barrels of oil and 2.5 trillion cubic feet of natural gas. That energy, straight from Virginia's shores, would provide part of America's energy solution, as our nation attempts to stay competitive in the face of rapid globalization and increased competition for resources.

The issue is clearly important to the American people. The government's open comment session where citizens, policymakers, and others who wished to voice an opinion on offshore exploration has drawn to a close. The Minerals Management Service -- the federal agency that manages the nation's natural gas, oil, and other mineral resources on the Outer Continental Shelf -- received more than 450,000 responses to the expired moratoria.

Over the course of last year's election cycle, the public continuously maintained support for offshore drilling -- regardless of political affiliation. In June 2008, a Reuters/Zogby poll revealed 60 percent of Americans support domestic drilling. That same month, a Rasmussen survey showed 67 percent of Americans support increased exploration. And here in Virginia, public opinion polls from two of the state's major newspapers found similar results. This is a majority that can no longer remain silent.

Federal waters in the Outer Continental Shelf hold vast, untapped amounts of oil and natural gas. These resources are critical as we rebuild our economy and get our nation back on strong footing. Right now, about 25 percent of America's crude oil and 15 percent of our natural gas production come from offshore areas. With the moratoria's expiration, America now has an estimated 14 billion barrels of oil and 55 trillion cubic feet of natural gas at its disposal. It's enough resource to power more than 20 million cars and heat nearly 1 million households for 30 years. That amount could be even higher, given the range of unexplored territory off our coasts.

Companies searching for oil and natural gas now rely on state-of-the-art technology that extends their reach while decreasing their impact on ecosystems or surrounding wildlife.

Global competition is more cutthroat than ever. To stay relevant, America must have the oil and natural gas that makes our economy tick. Renewables are important, but cannot offer the promise of oil and natural gas. Today's exploration operations are safe, clean, and provide the energy our nation needs to right itself.

We can be the first state along the Atlantic to welcome the search for oil and natural gas resources, or we can continue pushing off what may be the inevitable. We have the opportunity. We need the energy. Now all we need is for the current administration to have the desire to do what's best for our economic and energy security.

Christopher B. Saxman represents the 20th District in the Virginia House of Delegates and is general manager of the Shenandoah Valley Water Company in Staunton. Contact him at (804) 698-1020 or .