A new study indicates that natural gas production off the shores of South Carolina would create more than 2200 jobs for the state, and could lower energy costs for Upstate manufacturers.
According to the study by the Southeast Energy Alliance, offshore energy production in South Carolina would generate $45 billion in federal, state and local government revenues, as well as $413 million in gross domestic product.
Low-country congressman Henry Brown says energy industry guru T. Boone Pickens led the way for the study. Brown says South Carolina could receive a $250 million annual royalty if granted a revenue-sharing program currently afforded to Gulf Coast states.
The Republican Representative says it’s time for energy independence. “We’re importing 70 percent of our energy needs from off shore now, and some of those countries don’t like us. Our balance is now are some 300 to 400 billion dollars a year. But we’ve got a tremendous supply right off the coast.” [click to continue…]
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