New Study Highlights Job Losses, Higher Energy Prices if Prohibition on American Energy Production Remains in Place
WASHINGTON, D.C., February 15, 2010 | Jill Strait (202-225-2761)
Today, House Natural Resources Committee Ranking Member Doc Hastings (WA-04) released the following statement regarding the National Association of Regulatory Utility Commissioners (NARUC) study on the social and economic impacts of prohibiting American energy production on federal lands:
“Today’s report paints a startling picture of what the United States stands to lose if the Obama Administration and Democrats in Congress continue to block American energy production. Unless their policies change, Americans can look forward to a world with millions of fewer jobs, higher gas prices, higher electricity prices, and billions of American dollars being sent to hostile foreign countries. This report is further confirmation that an all-of-the-above energy plan, like the Republican American Energy Act, is needed to stabilize our economy, create jobs and ensure our national security. The stakes are too high for this Administration to continue sitting on its hand and stalling progress to produce new American energy.”
According to the NARUC study, maintaining the current moratoria on both onshore and offshore energy production until 2030 will have the following projected impacts:
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