The Obama administration has aggressively focused attention on
assessing — and possibly unleashing — the Atlantic
coast's energy resources. After several years of eyeing its
wind energy potential, last week the White House turned to oil and
gas.
Polls show a solid majority of Virginians support power
generation from offshore wind, oil, and gas, believing it important
to our nation's economy and energy independence. Most Virginia
lawmakers — federal and state — also support offshore
energy production, especially if resulting tax and royalty payments
help fill state coffers.
Researchers and regulators estimate that nearly 3,000 megawatts
of wind power could be harnessed off Virginia's coast, roughly
equivalent to a half-dozen medium-size coal-fired power plants.
It's also estimated that 165 million barrels of oil lie beneath
Virginia's section of the Outer Continental Shelf, worth about
$13 billion, and that 1.6 trillion cubic feet of gas is there,
valued at $10
