Energy demand will continue to hit record highs in the coming years, and while renewable energy technologies are growing rapidly, they alone cannot meet our energy needs. From nuclear and hydropower to oil and gas, we must pursue an all-of-the-above approach if we are to sustain our high quality of life. Unfortunately, our nation stands at a crossroads. The unprecedented lapse in the federal offshore leasing program by the Biden administration poses a grave threat to American energy security, our economy, and the environment.
As our energy needs continue to rise, it is crucial we navigate toward energy solutions that simultaneously reduce emissions and ensure access to reliable and affordable domestic energy. Thankfully, the United States possesses one of the most strategic sources to meet these demands: the Gulf of Mexico. This region holds untapped potential capable of exceeding our continuously growing energy needs while bolstering national security, igniting economic growth, and reducing global emissions.
A groundbreaking report commissioned by the National Ocean Industries Association (NOIA) and completed by ICF International, GHG Emission Intensity of Crude Oil and Condensate Production, found that American energy production in the Gulf of Mexico produces the lowest carbon intensity oil of anywhere in the world. The report highlighted that by increasing total U.S. production to offset foreign crude oil and condensate, we could reduce international carbon intensity by 23 percent. And if we produce in the Gulf of Mexico, we could reduce the international average carbon intensity by 46 percent.
Put simply: By producing energy in America, we can reduce global emissions.
Expanding American energy production in the Gulf of Mexico translates into substantial economic gains for our nation: the creation of 370,000 jobs, a $30 billion investment in the United States, and over $30 billion added to our GDP, according to a recent analysis by Energy & Industrial Advisory Partners. The benefits extend far beyond the Gulf states; the supply chain supporting oil and gas production in the region stretches across every state, with jobs and investments tied to the industry reaching states as distant as Washington and Hawaii.
The United States energy sector has long stood as a pillar of our economy, and by expanding production, we can create even more high-paying jobs and attract substantial investments nationwide.
The Gulf of Mexico plays a critical role in enhancing energy security for the United States and our allies, who are increasingly reliant on American energy. By promoting continued investment in the Gulf of Mexico through uninterrupted leasing and permitting, we can safeguard our national interests, protect against geopolitical uncertainties, and offer our allies a more stable energy choice.
Such investments present opportunities for the deployment of new and emerging technologies within the United States as well. The very same companies that have invested in the Gulf of Mexico's oil and gas sector are now involved in American offshore wind and carbon sequestration projects. With the right policies in place, we can harness the expertise and advantages offered by the skilled workforce of the Gulf of Mexico.
As the global energy landscape evolves and renewable sectors gain momentum, it is crucial to acknowledge our present reality: Our energy demands cannot be met by a single solution alone. Immediate renewal of the federal offshore leasing program is imperative. By deftly leveraging the advantages presented by the Gulf of Mexico and its vast energy reserves, we can meet global energy demands, spur American investments and job creation, and reduce global emissions.
Congressman Dan Newhouse (R-Wash.) is the chair of the Congressional Western Caucus.
Erik Milito is president of the National Ocean Industries Association (NOIA).
The views expressed in this article are the writers' own.
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