Op-ed | A propsperous future for South Carolina lies offshore

The energy industry is powering an economic renaissance in South Carolina. Currently, more than 67,000 state jobs are tied to the oil and natural gas sector, which contributes nearly $5 billion a year to the Palmetto State’s economy.

Those numbers are poised to go up, thanks to the Obama administration’s recent decision to allow energy exploration in the Atlantic Outer Continental Shelf.

Critics argue that such energy exploration will hurt the tourism industry and the environment. These claims are baseless. Development of the OCS will boost South Carolina’s economy and U.S. national security all without harming wildlife.

According to the federal Bureau of Ocean Energy Management (BOEM), the OCS 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.

The move to develop the OCS is only the latest example of America’s emergence as the world’s energy superpower. Over the past decade, U.S. energy companies have devised new extraction techniques like horizontal hydraulic fracturing or “fracking” which have opened up previously unreachable underground oil and gas reserves.

Fracking has delivered a host of benefits to the Palmetto State.

Consider the tourism industry. According to South Carolina’s tourism director, Duane Parrish, “2013 was a record year for tourism in the state, 2014 will surpass that, and lower gas prices were a big part of that.”

Lower prices at the pump effectively act as tax cuts, generating additional economic activity. A new report from the University of South Carolina concludes that falling fuel prices free up resources for firms to create jobs.

This energy boom has also helped U.S. national security. Surging oil production at home has reduced our reliance on oil imports from hostile foreign countries. Last year, the United States had to import only a little more than a quarter of the petroleum consumed here, the lowest level in 30 years.

Despite these advantages, critics claim that offshore drilling will bring only doom and gloom. They’ve criticized seismic surveying a technique that uses sound waves to look for oil deposits beneath the ocean floor. They suggest this technique harms wildlife.

But that’s not true. According to the BOEM, “there has been no documented scientific evidence of [seismic surveying]… adversely affecting marine animal populations or coastal communities.” Moreover, the energy industry always brings wildlife experts along the boats that perform seismic surveying to ensure that animals are protected.

Critics also claim that offshore drilling could hurt South Carolina’s coastlines and therefore tourism.

But these rigs will be 50 miles offshore, per federal regulations. What’s more, President Obama’s own Oil Spill Commission noted that heightened safety measures have made offshore drilling safer than ever. For example, tankers are now built with double hulls to help prevent spills. Pipelines are outfitted with computers, electromagnetic instruments, and ultrasonic tools so engineers can detect and repair vulnerabilities earlier. Energy companies also have state-of-the-art tools and trained experts to respond to leaks in deep-sea wells even if they are thousands of feet below the surface.

Folks understand the value of offshore drilling. A recent poll concluded that over 70 percent of South Carolina voters are in favor of offshore oil and natural gas development. South Carolina’s governor and both U.S. senators are also in favor. Tapping into the OCS energy resources off South Carolina’s coast would help secure the state’s economic future in an environmentally safe way. It’s time for an energy-fueled South Carolinian and American renaissance.

William Schachte Jr., a retired rear admiral, U.S. Navy, is the South Carolina chairman for Vets4Energy. William Crowther is President of the Atlantic Energy Alliance.

This story was originally published July 10, 2015 at 2:33 PM with the headline "Op-ed | A propsperous future for South Carolina lies offshore."