Gulf of Mexico energy companies produce about 1.7 million barrels of crude oil per day. It is transported to refineries along the Gulf Coast, where it becomes a variety of fuels and products that boost the U.S. economy. Gulf oil also contributes to the roughly $2.8 billion added to the U.S. Treasury every year from Outer Continental Shelf (OCS) oil and gas production.
"National security, energy security and economic security are all tied to a robust offshore oil and gas industry," said Scott Angelle, Bureau of Safety and Environmental Enforcement director. "With the OCS contributing one out of every six barrels of oil produced in the U.S., this Made in America energy is vital to meeting President Trump's and Secretary Zinke's goal of energy dominance."
While both sour and sweet crudes are produced from the deepwater Gulf of Mexico, the more recent discoveries and projects such as Anadarko's Lucius and LLOG Exploration's Delta House produce the light, sweet crude.
This sweet crude is considered more valuable; it is safer to extract and transport, less corrosive and easier to distill. According to the U.S. Energy Information Administration, each 42-gallon barrel of oil entering American refineries produces about 19 gallons of gasoline, 12 gallons of diesel fuel and four gallons of jet fuel -- plus kerosene, residual fuel oil, road oil, asphalt, naphtha and lubricants.
The OCS produces enough oil to supply the annual needs of one out of every 10 Americans. It also supports more than 300,000 jobs nationwide, with capacity for years to come.
"In considering deepwater production, I am reminded of the Chinese proverb that one generation plants a tree, another enjoys the shade," Angelle explained. "Now is the time for this generation of Americans to create a business climate worthy of investments in the Outer Continental Shelf so production from American energy won't be reduced. In other words, let's start planting trees."
For more information, visit www.bsee.gov or call (202) 208-6184.
