Reliable Energy
A steady, reliable supply of energy from Virginia’s offshore resources would help Virginia’s economy -- but is also necessary to help Virginia and America meet increased energy demand.
Here in Virginia, our energy demand is far outpacing our energy production. According to the U.S. Energy Information Administration (EIA), Virginia is a net energy importer — consuming 2,514 trillion BTUs of energy, while only producing 1,162 trillion BTUs.
Overall, America is in the same boat. The EIA forecasts American energy demand will grow by 21 percent between 2009 and 2035, with more than half of the energy demand expected to be met by oil and natural gas, as is the case today.
Developing Virginia’s vast offshore energy resources can help us meet this energy demand without having to rely on foreign partners — many of whom don’t share America’s best interests.
Reliance on these foreign partners increasingly means that global crises lead to less reliability and more supply disruptions, an especially detrimental impact to businesses that require steady supplies of oil and natural gas.
Increasing our domestic supplies of oil and natural gas would increase our energy security by providing the stability that our businesses and consumers require.
Regulation and Standards
Offshore energy producers adhere to strict standards and tough regulations. These industry standards are designed to protect the workers, the platform and the ocean waters. They have been strengthened over the past several years.
All energy developers must use specialized equipment, such as blowout preventers and subsurface safety valves. In addition, all energy companies operating in offshore energy production must comply with a rigorous set of prepardness and planning requirements.
Federal agencies, such as the Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) and the U.S. Coast Guard, perform numerous drills and inspections each year to test energy producers’ response and preparedness.
These rigorous standards and regulations, combined with well planning, engineering, drilling practices and standards, are the key to producing reliable energy with minimum risk to our environment.
