Report Shows Obama Regulations Stifling Offshore Energy Production from Creating Hundreds of Thousands of Jobs, Billions in Revenue
WASHINGTON, D.C., July 21, 2011 | Jill Strait, Spencer Pederson or Crystal Feldman (202-225-2761)
The Gulf Economic Survival Team (GEST) today released a nationwide study on the devastating job losses and economic impacts as a result of the significant slowdown in drilling activity in the Gulf of Mexico. The study observed the pace and volume of offshore plans and examined the economic consequences of slowed energy production in the Gulf created by the Obama Administration’s de facto moratorium.
“The burdensome regulatory process imposed by the Obama Administration is not only devastating to job creation and economic activity in the Gulf, but to every state in America. Despite the rosy picture the Administration likes to paint, their policies are continuing to punish job creators, hardworking families, and American energy production. I hope the projections in this report do not come true and we can put Americans back to work by resuming responsible and safe offshore American energy production” said Natural Resources Committee Chairman Doc Hastings.
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