IER calls on the administration to unlock taxpayer-owned energy resources
- IER President: “Americans need jobs and America needs fuel to drive economic growth and prosperity. Increasing domestic energy production is a common sense solution embraced by a clear majority of Americans”
Washington, DC – Today, one in 10 Americans are out of work. However, the Obama Administration has the opportunity to help create hundreds of thousands of jobs, increase America’s long-term energy security and reduce our dependence on imported energy by allowing responsible, environmentally-sound offshore energy production.
“The President has directed an enormous amount of hard-earned tax dollars to prop up ‘green jobs’ that would otherwise not exist without heavy and ongoing government support. At the same time, this Administration has discouraged common sense job creation efforts, especially responsible offshore oil and gas development,” said Thomas J. Pyle, president of the market-oriented Institute for Energy Research (IER). “And despite widespread public support for increasing all forms of domestic energy – especially offshore – the President and his Administration continue to add layers of red tape and bureaucratic hurdles on access to homegrown energy.”
Pyle is referring to the job-creating energy resources along the outer continental shelf (OCS), an energy-rich area located between 3 and 200 miles off our coast. Developing oil and gas reserves along the OCS has the potential to create 1.2 million jobs and provide an additional $70 billion in annual wages.
“This Administration continues to embrace Washington-dominated, command-and-control national energy policies focused on mandates, subsidies and political favors – not market forces,” continued Pyle. “Subsidizing one form of energy, while restricting the exploration of another, will lead to several measurable outcomes: increased energy prices across the board, fewer jobs and a weaker footing in the global economy.”
According to the Interior Department, this Administration has leased less taxpayer-owned land than any other year on record during its first year in office, while realizing one-tenth the amount of revenue from leasing taxpayer-owned land than it did in 2008.
Pyle notes that free enterprise continues to create tens of thousands of energy-related jobs right here at home.
“Without a government handout or a Washington mandate, natural gas production created nearly 48,000 jobs last year in Pennsylvania alone,” said Pyle. “Now more than ever, Americans need jobs and America needs fuel to drive economic growth and prosperity. Increasing domestic energy production is a common sense solution embraced by a clear majority of Americans. If the President was serious about redirecting our economy and helping to put struggling Americans back to work, he’d move forward aggressively to expand domestic energy production.”
More from IER:
- OCS Economic Impact Study
- Actions Speak Louder Than Words on Domestic Energy Production
- IER sets the record straight on Obama Admin energy leasing program
For additional information, please contact Patrick Creighton, 202-621-2947, or Laura Henderson, 202-621-2951.