N.C. official suggests cooperation on offshore drilling

Posted to: Environment News North Carolina
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The Associated Press
© October 7, 2009

RALEIGH, N.C.

A leader of a General Assembly panel examining energy exploration off the North Carolina coast says the state should consider working with neighbors to ensure its interests are protected.

Doug Rader with the Environmental Defense Fund in Raleigh said Wednesday that North Carolina needs to watch potential oil and natural gas drilling or alternative energy initiatives off the coasts of Virginia or South Carolina.

An oil and gas lease sale off the Virginia coast is scheduled early next decade. Virginia's state geologist told the offshore energy advisory panel two potential wind energy projects also are being discussed.

Rader said it would be unfortunate if North Carolina has no say about projects that could affect negatively the North Carolina coast, or can't share in profits in nearby ventures.

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Re: Oil Revenues

Submitted by merlin2752 on Thu, 10/08/2009 at 11:55 am.

Unfortunately, Virginia will receive NO REVENUE from any oil or natural gas discovered in the area proposed for the lease sale. The Outer Continental Shelf Lands Act and the Federal Oil and Gas Royalty Management Act don't allow for sharing of federal offshore revenues with adjacent coastal states except in the Gulf of Mexico and Alaska. Congress would have to act to amend revenue sharing provisions in federal law so that Atlantic states would be eligible. Believe it or not, there is considerable resistance in Congress to doing this. One fear is that offering revenue sharing to all coastal states will cause more states to agree to drilling off their shores. So, Virginia is now faced with having offshore leasing and drilling and production with none of the revenue coming to the Commonwealth.

Oil Revenue

Submitted by alexvb on Thu, 10/08/2009 at 12:01 am.

I would hope the powers that be have enough sense to funnel some of this oil revenue into developing nuclear power and the hydrogen economy. Global warming, air pollution and the risk of spills are very real. Ask the people in Alaska. Also, I would hope that VB can become upscale like some of those Sheikdoms such as Qatar and Dubai. If the arabs can invest their oil money into making nice buildings, private schools such as "Aspire" and excellent infrastructure, than we should be just as able when we hit the oil lottery.