Florida should support oil drilling off the coast

It’s no secret that Florida’s economy is doing well, with unemployment at 3.7 percent and economic growth outpacing the national average.

As Floridians look to the future, the challenge will be to expand economic progress, especially with projections that Florida will add 6 million residents by 2030. According to the Florida Chamber Foundation, 2 million jobs will be needed to keep pace.

While there may not be many silver bullets for economic policy challenges like this, offshore energy development comes pretty close. A wealth of natural gas and oil resources is awaiting development off Florida’s coasts, and with the latest techniques and measures making exploration safer than ever, now is the right time for that development.

Studies show energy development in federal waters off Florida’s coast could create more than 56,000 Florida jobs by 2035, generating more than $2.6 billion in private investment per year in state revenues. Overall, energy development in the Atlantic could generate nearly 265,000 new jobs along the East Coast and across the country, while Eastern Gulf of Mexico development could create nearly 165,000 nationwide jobs, including 152,000 along the Gulf Coast.

Energy industry jobs pay nearly

$50,000 more annually than the U.S. average, and 2.7 jobs are supported in other fields for each direct energy industry job. Construction, manufacturing, service, and supply firms all stand to get a boost from opening offshore areas to safe energy development.

Notably, the energy sector offers promising careers for underserved communities. A recent report projects 1.9 million job opportunities in America’s oil and natural gas and petrochemicals industries by

2035, including 707,000 positions — 38 percent — projected to be held by African American and Hispanic workers and more than 290,000 for women.

Considering Florida’s diverse population, those numbers merit attention. My organization, the Hispanic Leadership Fund, has certainly taken note. That’s why we’ve joined the Explore Offshore coalition, an organization uniting local chambers of commerce, religious leaders, veterans, and community groups from Virginia to Florida. Offshore development means jobs and opportunity for Americans of every demographic.

Still, Floridians who cherish the beautiful coastline and value the state’s booming tourism industry will want to carefully consider any risks and evaluate the latest facts about offshore safety. Thankfully, since the 2010 Gulf of Mexico incident there have been comprehensive efforts to make operations safer. Through joint efforts from industry and government regulators, more than 100 industry standards were created or strengthened. And the industry launched the Center for Offshore Safety to ensure the improvements stick and continue to evolve with technology.

Taking advantage of the country’s offshore resources off Florida is both smart economic and smart energy policy. It means downward pressure on energy prices, energy security, competitive advantages for Florida factories, and opportunities for communities that are often left out of economic success, even in a booming economy like Florida’s.

All these factors point to responsible offshore exploration as an important solution. That’s why the Hispanic Leadership Fund supports such efforts, and we hope more Florida communities will join us.