The document analyzes the feasibility of an offshore air bag energy storage system using various working fluids and lake combinations. It finds that a system using oxygen at Lake Clark can generate 0.001% of US household energy needs with a single submerged balloon requiring 33,690 cubic meters, less than 0.01-0.025% of the lake's volume. The system would have an $18.5 million fixed cost and $3,786 daily running cost, recouping costs after around 6 years of daily 8 hour peak generation. Safety and environmental concerns are discussed, recommending against using hydrogen as an explosive working fluid. The analysis concludes the proposed system could store required energy but has a long cost recovery time.