NEW Study Shows Job & Economic Surge from Increased Offshore Energy ProductionPosted by Committee Press Office on December 05, 2013
A new study released today shows that increasing America’s offshore energy production in the mid and south Atlantic will create hundreds of thousands of new jobs and drastically grow America’s economy.
“Today’s study further confirms that increased offshore energy production will create American jobs, spur economic growth, lower energy prices, and bring in much-needed tax revenue to local and state governments as well as the federal government,” said House Natural Resources Committee Chairman Doc Hastings. “Unfortunately the Obama Administration continues to actively deny these benefits by blocking new offshore energy production wherever and whenever possible. For example, Virginia lease sale 220 was supposed to take place two years ago, but it was postponed and then canceled by the Obama Administration. The earliest it can now happen is 2017, though delays in allowing seismic permitting call even that date into question. As this study shows, the Commonwealth of Virginia is now missing out on the creation of 25,000 jobs because of the President’s actions.”
Highlights of the study: