CEA’s Michael Whatley recently testified on the importance offshore energy exploration has on reducing costs for energy consumers and job creation and when families could expect to see results after exploration is approved.
“To be sure, this is a long process. Assuming that these areas are ultimately included in the new program, additional environmental and public reviews, federal approvals, and business determinations will have to occur before any actual on-the-water activity takes place,” he said, adding, “Given the long lead-times associated with development in new OCS regions, actual production would be unlikely to take place before the mid-2030s.”
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