Offshore Drilling

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SC Department of Commerce

• Offshore natural gas drilling will not likely
  have a significant, direct economic impact in
  terms of new jobs and capital investment in SC
• It is undetermined whether potential royalty
  payments would foster economic growth

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Oil Gas Reserves(MMS Estimates)

• Atlantic Region
• Oil - 3.82 billion barrels 6/- month supply
• Natural Gas - 36.99 trillion cubic feet lt than
  2 years supply
• South Carolina
• Oil 14 million barrels 16 hour supply
• Natural Gas 3.6 trillion cubic feet lt3 month
  supply

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Whats Happening in Virginia?

• In 2006, Gov. Kaine of Virginia signed a bill
  supporting federal efforts to determine how much
  natural gas exists 50 or more miles off the
  Atlantic coast.
• But Delacey Skinner, Kaine's communications
  director, said the Bush administration's proposed
  review goes beyond what Kaine had requested. She
  said the administration appears to be preparing
  for a "carte blanche leasing out of drilling
  rights."
• "The state's official position . . . was we asked
  for a narrow lifting of the moratorium that was
  targeted specifically for exploratory drilling
  for natural gas only," Skinner said. "In that
  sense, this is significantly different from what
  Virginia was seeking."
• Skinner added, "There are a number of issues that
  Virginians would like to see resolved before
  anyone moves forward with something this
  sweeping."