Posted on 07/28/2010 6:08:20 PM PDT by Kaslin
Energy: A new analysis of the effects of the offshore drilling moratorium shows more to worry about than beaches and tourism. Massive job loss and economic hardship lie ahead, and we're doing it on purpose.
It's been 100 days since the Deepwater Horizon disaster cast a pall over America's energy future while endangering the environment onshore and off. Whether it was due to negligence or the inherent dangers of deep-water drilling, it pales in comparison to the self-inflicted wound of increased energy regulation and taxes and the Obama administration's moratorium.
President Obama has succeeded in turning a crisis into an economic disaster. During a conference call with journalists, Jack Gerard, president of the American Petroleum Institute, detailed the harmful effects of expected new energy taxes and regulation in administration proposals.
"The administration's moratorium, if continued indefinitely — or similar legislative proposals which would make the deep water unavailable or uneconomic — would cost this country 175,000 jobs every year between now and 2035, according to our latest analysis," Gerard told journalists on the call.
Skeptics will say the API, a group representing some 400 oil and natural gas companies, has a financial stake in supporting offshore drilling. So do we all, starting with those whose jobs will be lost. Facts are stubborn things, and the facts are that the oil and natural gas industry supports 9.2 million workers and contributes 7.5% of all U.S. gross domestic product.
Already oil rig platforms are leaving, possibly never to return. Houston-based Diamond Offshore Drilling, the second-largest U.S. contractor, has said it's moving two rigs from the Gulf of Mexico to Egypt and the Republic of Congo. Scotland's Stena Drilling is shifting one to Canada.
(Excerpt) Read more at investors.com ...
There is now no REQUIREMENT to ask for legal status. But it is not prohibited.
I disagree with the article. It’s created a lot of jobs for people who hate us. Maybe they will like us now...right? </sarc>
The oil spill ha done far less damage than this dumb moratorium.
Ping
So True...
On the path to Obama’s destruction of America, it is necessary to create the largest dependent class possible.
We won’t need anymore oil if we don’t have jobs.
Where are we going to go?
That dependent class will need quite a few doctors as the numbers of democratic voters requiring free health care increases dramatically.
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