The President is gearing up for yet another jobs speech, the latest attempt to show that this iteration of the mythical “jobs pivot” is for real. Sadly, if we had a job every time Obama gave a jobs speech, why, we’d be pretty close to full employment by now.
Rather than continue talk Americans to death, NTU has been advocating a number of actions Obama could take to breathe some life into our stagnant economy. One of the most important things is to allow companies to responsibly search for and develop domestic energy sources.
For years, the federal government has kept vast amounts of energy under the lock and key of an exploration moratorium, or its more modern, but no less nefarious cousin, the “permitorium” whereby development is ground to a halt through bureaucratic pigheadedness rather than statutory barriers.
Already this year the House of Representatives has passed several pieces of legislation aimed at putting an end to the governmental obstructionism that is forcing rigs to leave our waters, energy exploration to slow, and investment to flow to other countries. Sadly, each of these bills has languished in the Democrat-held Senate where most of them have not even been brought to a vote.
Tonight’s jobs speech presents yet another chance for President Obama to wake up to the fact that improving the efficiency and rate of permitting activity could rev our idle jobs engine. In anticipation of Obama’s supposed plan, a group of 18 organizations have put together a coalition letter urging him to consider the positive economic impacts of safe and reliable domestic energy.
Here’s an excerpt and the full letter can be found at the link below,
“According to a recent study from some of the leading energy economists in the world - IHS Global Insight and IHS CERA - increased exploration and production activities in the Gulf would create 230,000 jobs, increase US gross domestic product by more than $44 billion, and contribute some 400,000 barrels per day of oil production towards US energy independence
. . . Therefore, we urge you to make responsible and effective exploration and development of energy resources in the Gulf of Mexico and elsewhere a centerpiece of your jobs agenda.”