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Report: Offshore Drilling Would Create East Coast Boon

Fuel Fix reports that "the economic benefits that would flow from offshore oil drilling in U.S. Atlantic waters outweigh the potential environmental costs of the activity, according to a study released Wednesday."  

"The report, commissioned by the Interstate Policy Alliance and South Carolina’s Palmetto Policy Forum, says oil and gas drilling from Delaware to Georgia would generate $10.8 billion to $60 billion in added economic value for those states, plus $2.1 billion to $11.6 billion in tax revenues."  

"Environmental effects from the activity — including costs associated with air emissions, carbon pollution and oil spills — are estimated to have a price tag of $395 million to $19 billion."

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