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Virginia Off-shore Oil and Gas Production Would Create 32,000 jobs; $119 Million in New Tax Revenue

Developing Virginia’s off-shore gas and oil production would result in up to 32,000 new jobs and produce up to $526 million in royalty payments and $119 million in state and local tax revenue. That’s the conclusion of a new study released conducted by Dr. Timothy J. Considine, Distinguished Professor of Energy Economics at the University of Wyoming’s School of Energy Resources, which looked at the financial impact of off-shore oil and gas production along the Atlantic seaborard. A companion paper, written by Jefferson Institute chairmand and president Michael J. Thompson, used Considine’s data to focus on Virginia’s potential

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