For Jobs, Drill, Baby, Drill!
Yesterday, we growled and asked where have all the jobs gone? Today, we’ll suggest the first place to look for those jobs is the oil industry. Citing a report from the American Petroleum Institute, CNS News reports today the “oil industry could generate over 1 million jobs by 2030.” The online news service, CNS News begins their reporting:
“The petroleum industry could generate 1 million jobs by 2018, and more than 1.4 million by 2030, if key U.S. regions are opened to development and regulatory burdens are lifted on current projects, according to a report issued by the American Petroleum Institute (API).
“The report, released last Wednesday, also projects oil production growth by 10.4 million barrels a day and an increase of $803 billion in government revenue by 2030. The report was prepared by the Scotland-based Wood Mackenzie Research and Consulting.
"These projections are based on the U.S. adopting “policies which encourage the development of new and existing resources," states the report.
“That means reduced government regulation, including opening many areas in Alaska, the Rocky Mountains, and the Atlantic and Pacific coasts that are currently “off-limits” to drilling; increasing the rate at which permits are issued for drilling in the Gulf of Mexico; and developing shale oil in New York State without burdensome environmental regulations.
“Specifically, the policy changes include: opening non-park federal onshore and offshore areas to development where now prohibited; returning oil drilling permits in the Gulf of Mexico back to pre-spill levels; approving the Keystone XL and other pipelines; and establishing a regulatory environment that permits full development of the nation's oil and gas resources, including those locked in shale formations.”
CNS News concludes their reporting, saying:
“If the full potential of domestic oil and gas production could be achieved while also increasing imports of Canadian oil, all of America's liquid fuels could come from secure North American sources within 15 years,” Gerard said.
“Currently, more than 9.2 million people work in the oil and natural gas industry, representing 7.7 percent of the U.S. economy, according to API.
“Oil and gas companies deliver more than $86 million a day in revenue to the U.S. government, and, since 2000, have invested more than $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives, the oil industry trade group reported.”
While the federal policy makers could easily choose such low-hanging fruit, Virginia’s environmentalists, led by the Sierra Club, will be celebrating on September 24, Virginia’s move “beyond fossil fuel,” according to the blog, Blue Virginia.