Oil-and-gas drilling bans

[Magox]

Interesting report from the SAIC and GTI.

 

In recent decades our nation has restricted a significant expanse of federal onshore and offshore Outer Continental Shelf(OCS) lands from natural gas and oil exploration and production. The federal government estimates these lands may contain 285 Trillion cubic feet (Tcf) of natural gas and 46 Billion barrels of oil (Bbo) of undeveloped energy resources.

 

This study: 1) updates the nation’s onshore and offshore natural gas and oil resource base in moratoria and non-moratoria areas; and, 2) using the updated resource estimates, assesses the social, economic and environmental impacts to the nation of maintaining the moratoria in the upcoming decades. The findings reveal an energy future for the nation that increases the cost and restricts the availability of domestic oil products and natural gas. Primary residual impacts: reduce real consumption levels; decrease gross domestic product (GDP); increase dependence on foreign oil and natural gas imports; increase payments to exporting nations; decrease real industrial shipments; elevate energy costs;

decrease employment levels; decrease household income; and, produce a mix of negative and positive environmental effects.

 

Accounting for the updated oil and gas resource base, maintaining the moratoria until 2030 will decrease cumulative U.S. GDP by $2.36 Trillion – an average annual reduction of 0.52 percent.

 

In other words, it's time to start drilling for more oil. Considering that there is a major shift away from anything that is related to Climate Change legislation that involves potential job losses, I don't believe Democrats have the appetite to push through with this losing agenda, and it's clear that we need to create more energy and jobs and this is a sure way of doing it.

 

My guess is that there will be a comprehensive Energy bill, that doesn't contain extensive emissions trading with caps on pollution emission, at least not to the degree that the Libs were hoping for. The bill will most likely include all sorts of incentives for "green" energy and the go-ahead for extensive drilling.

[Alaska Darin]

Energy jobs in America are verboten.

 

Sincerely,

 

Liberal left