Here’s what the oil and natural gas industry currently means to the state of Florida:

• More than $18 billion contributed to the economy.
• More than $10 billion contributed to labor income.
• More than 230,000 jobs provided or supported by the industry, with an average salary for non-gas station oil and natural gas employees of $61,388.

Even better – here’s what the oil and natural gas industry could mean to Florida with sensible energy development and sound tax policies:

• More than 84,000 additional jobs created by 2015 and more than 131,000 additional jobs created by 2030.
• An average of $1.3 billion of new, additional revenue to the state every year through 2030.

Let’s put that second figure in perspective: An additional $1.3 billion each year would be enough to c... more »

In a major policy reversal, the Obama administration yesterday announced that it would not include potentially energy-rich areas of the eastern Gulf of Mexico, the Atlantic, and the Pacific in the government's next five-year offshore leasing plan. Further, the administration also officially delayed the next two lease sales for the central and western Gulf.

In March, President Obama said the administration would examine and consider leasing offshore areas along the Atlantic coast from Delaware to Florida, as well as areas in the eastern Gulf and in Alaska's Beaufort and Chukchi seas.

API's President and CEO Jack Gerard said the policy shift "shuts the door on new development off our nation's coasts and effectively ensures that new American jobs will not be realized."

Had the lease sales gon... more »

Cuba appears to be preparing for an oil boom just south of the Florida coast.

According to newspaper articles and government reports, state-owned oil companies from several countries are interested in drilling in the island nation's territorial waters. The Wall Street Journal reports that Spanish-owned Repsol is planning to drill several wells about 50 miles from the Florida Keys next year. The Miami Herald says a rig will drill in about 5,600 feet of water about 22 miles north of Havana, and about 65 miles south of Florida's Marquesa Keys.

Cuba's northern waters could have significant undiscovered oil resources. According to the U.S. Geological Survey (USGS), an estimated 4.6 billion barrels of oil could exist in the North Cub... more »

In today's episode, I interview Dr. David Vaughan of the Mote Marine Laboratory at Summerland Key, Florida, about his research on oil in the water from the Gulf spill and its potential effects on the subsea environment.

Dr. Vaughan says that his current research shows no detection of oil or oil dispersants in southwest Florida or the Florida Keys. He also explains how the Franklin Eddy is preventing oil from entering the Loop Current and from moving around the tip of Florida to the Atlantic Ocean.

Use the audio player below to listen to information about the article and follow along with the show notes. I hope you find the podcast informative.

00:17 News reports indicate that tar balls from the Deepwater Horizon accident are washing up on beaches throughout the Gulf Coast, and man... more »

In today's episode, I interview Rep. Dean Cannon, Speaker Designate of the Florida House of Representatives, about his bill to open up Florida's State-owned waters to offshore drilling. Rep. Cannon says this proposed bill would help boost the state's economy while protecting Florida's tourism sector. He also references a recent study, conducted by the Willis Group, which shows the low risks associated with offshore drilling.

Use the audio player below to listen to information about the article and follow along with the show notes. I hope you find the podcast informative.

00:17 At the end of March, President Obama announced plans to open portions of the U.S. Outer Continental Shelf (OCS) to offshore oil and natural gas development, but his plans cover only feder... more »