Scott Garrett wants to drill off the coast of New Jersey. Most people in New Jersey have been against this idea. Well now we have the numbers to back it up.
The northern Atlantic Ocean, including the Jersey Shore, holds more economic value for activities such as commercial fishing and tourism than it does for oil extraction, according to a report released today by the New Jersey Sierra Club.
For every dollar an oil company would make from drilling off the North Atlantic coast, the more environmentally friendly pursuits of fishing and tourism would generate $12, making sustainable uses of the ocean more prudent than offshore drilling, the report said.
The report said New Jersey was responsible for generating $11.5 billion of the estimated $61 billion generated by leisure and hospitality and recreational and commercial fishing among the seven states in the North Atlantic region. The suspected oil and natural gas in the region is estimated at $5.1 billion, according to the report