Denying access to the abundant oil and gas resources within the Outer Continental Shelf (OCS) is a tragic example of this Administration’s continued fulfillment of environmental special interests’ agendas. Over 14 million Americans are out of work and yet, the Department of Interior continues to drag its heels on granting new leases for energy production.”
Year after year, studies who that if the areas previously under moratoria are opened for leasing and development, the U.S. trade imbalance would be reduced by approximately $145 billion by 2025 if the domestically produced crude oil serves to offset imports on a one-to-one basis.
In addition to helping alleviate our dependence on foreign oil, the OCS oil and gas leases would also create over one million high-paying domestic jobs. Secretary Salazar must recognize the opportunities we have before us. These opportunities will provide relief in areas currently suffering from the economic downturn, such as energy prices and employment.
According to the American Energy Alliance (AEA), developing this single resource could also create an estimated 1.2 million well-paying jobs and generate more than $2.2 trillion in incremental tax receipts.
