Report | September, 2010
Untapped Wealth: Offshore Wind Can Deliver Cleaner, More Affordable Energy and More Jobs Than Offshore Oil
In Oceana’s report Untapped Wealth: Offshore Wind Can Deliver Cleaner, More Affordable Energy and More Jobs Than Offshore Oil, our comprehensive analysis shows that focusing our investments on clean energy like offshore wind would be cost effective, more beneficial to job creation, and better for the environment and ocean in a variety of ways than offshore oil and gas exploration and development.
On the Atlantic coast, an area targeted for expansion of oil and gas activities, offshore wind can generate nearly 30% more electricity than offshore oil and gas resources combined. In addition, wind development would cost about $36 billion less than offshore oil and gas production combined, while creating about three times as many jobs per dollar invested than fossil fuel production.
Based on conservative assumptions for offshore wind and generous assumptions for offshore oil and natural gas, this study found that by investing in offshore wind on the East Coast, rather than offshore oil and gas, Americans would get more energy for less money while protecting our oceans.