Industry Study: Dems Cost US $2.36 Trillion in Oil Money
Posted by Jim Hoft on Monday, February 15, 2010, 11:56 AM
In 2009 Democrats scrapped oil and gas leases in Utah, permanently banned drilling in the Arctic National Wildlife Refuge (ANWR), and nixed offshore drilling.
For decades Democrats have blocked efforts to responsibly develop this nation’s energy resources, transforming vast areas of opportunity into “The No Zone.”
A new study was released recently that examined the cost of these democratic policies of not drilling and developing domestic oil reserves. The SAIC Corporation discovered that democrats will cost the US $2.36 Trillion through 2029.
Bloomberg reported, via HotAir:
Restrictions on oil and gas drilling will cost the U.S. economy $2.36 trillion through 2029, according to a study requested by state utility regulators and paid for in part by industry-sponsored groups.
Drilling restrictions in Alaska’s Arctic National Wildlife Refuge and off the U.S. coastline are blocking access to about nine years’ worth of U.S. oil and gas consumption, according to the report. Among sponsors are the National Association of Regulatory Utility Commissioners and the industry-funded Gas Technology Institute, of Des Plaines, Illinois.
Former President George W. Bush and Congress ended bans in 2008 on drilling along the U.S. coastline. The Interior Department hasn’t acted to open the newly available areas, including offshore Alaska and on the U.S. Outer Continental Shelf in the Atlantic and Pacific oceans. Congress has kept the Arctic refuge off limits.
Ed Morrissey added:
There are obviously some opportunity costs lost in the refusal to use our own resources for energy production. Instead of sending billions to Brazil to boost oil production off of their coast, the private sector could invest its own money into leases and extraction. This would create hundreds of thousands of high-paying jobs here in the US, as well as reduce our trade deficit. It would provide a more stable bridge towards our shift to replacement energy sources in renewables, while boosting access to cheaper energy in the short run to make the American economy more dynamic. Without it, energy prices will rise much faster than inflation, making our economy more sluggish than necessary.
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Published February 8, 2012 at 8:42 pm - 100 Comments
TJ commented:
So who is really the party of “NO”?
Franklin commented:
Why don’t the oil companies just go ahead and drill?
If Obama and the Democrats can ignore the Constitution, shouldn’t we be able to ignore Obama and the Democrats?
listingstarboard commented:
How permanent is permanent in ANWR?
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TiminPhx commented:
Why would we ever need to drill. With all the Nuclear plants that have been built over the years, I mean….what? They haven’t? Due to whom? The same people who won’t let us drill? But that doesn’t make any sense…
kate commented:
Either we will become silly socialists like the euroweenies, huddling in our cold damp hovels while the elites jet about on our dime (yeah Nancy, I’m talking about you) or when enough Americans have had enough they/we will throw the bums out and start abandoning all these stupid programs. Until then, I just say get on the with. More and faster. We won’t get rid of them until it’s really really painful.
Andrew commented:
It’s strikes me as ironic that since the department of energy was established, there haven’t been any oil refineries built in the US. As far as ANWR is concerned, nothing is permanent; just ask the Dems in Massachusetts.
avery commented:
We are on the verge of having trouble with Iran and Energy prices is going throw the rooft.Our economy would take of if we drill every their ,and build lot of refinery.It want happen because Omaba want it high so he can break this country,and push Jeff Immelt Green jobs that want work.I my self i don”t buy anything that G.E. make
Ladue Pundit commented:
Permanent Excuse: “It won’t do any good to drill because it takes 10 or 20 years to realize any gain.”
The Progressives repeat this lie every 10 or 20 years.
Betsy Ross commented:
Michele Bachmann:
“The Coastal Plain of ANWR, also known as the 1002 Area, is neither wilderness nor refuge. It was set aside by Congress and President Carter in 1980 for future oil development.”
from Townhall.com dated 7/18/2008
merle commented:
TJ is right. The Dems are the party of no. And Americans are rightly fed up with the foolishness. Unchecked liberalism has got to stop. Thanks, Jim Hoft, for educating us at this site. Your news will spread like wild fire. We may never see it on MSM, but who cares?! It is getting out there through other venues now. Yay!
Corporal Vere commented:
We need to fire the entire congress. This is beneath stupid. Idiots like Nader, Obama, Dead Kennedys, Wildlife Foundation, et al gave us this sh!+ sandwich. The rats just about have us bankrupt and then they’ll control us.
The Saudis and Hugo Chavez are laughing (while their citizens weep) at us.
The US has no need to import (and finance mass murderers) any oil. What a wonderful world this will be.
Big question I have: do we try the above in civilian court or military tribunals?
Mongo commented:
“Big question I have: do we try the above in civilian court or military tribunals?” –
How about we cut to the chase and use firing squads?…. Naaaa, too socialist a suggestion.
bullwhacker commented:
One of the great untold stories of Obama’s utter disgust for fossil fuels and oil independence is his sponsorship (sole) of Senate bill 115, his “Oil Sense Act,” which was intended to keep Americans in the dark (pun intended), regarding U.S. oil resources. The 2005 “Energy Policy Act” authorized detailed inventory of Americ’a energy, including offshore sources. Obama’s bill specifically would have prohibited the use of the technology required to survey (i.e pc tech).
Greg commented:
I traveled through west Texas last oct and every town had drilling rigs stacked up in storage yards. The folks that drill are unemployed and wanting to go back to work. A jobs program that would cost the Fed govt nothing could be implemented by having the obstructionist in the EPA removed. Folks would go to work and taxes would flow from royalties and earnings. Producing our own would reduce the amount of dollars sent outside the country sustantially. Its a no brain solution.
Let all the other solutions to the energy demand continue unrelented. When the US no longer buys forign oil then let economics drive the sourcing.
Scott commented:
The environmental movement in the US likely has the KGB behind it…What other explanation makes sense??? We haven’t built a refinery or a nuclear plant since the 1970s…We refuse to drill domestically…Coal and oil companies are demonized…We import 70% of our oil. We are standing like a punch drunk boxer waiting on the middle east and venezuela to deliver a knock-out blow…Energy policy supporting domestic drilling, new nuclear, more coal, and more natural gas should be a litmus test for the tea-party to support candidates…
Scott commented:
#15
It fits…Obama is out to destroy American by any means necessary…
Corporal Vere commented:
Mongo #14,
I’m for hangings. Although, I volunteer to garrot (strangle – liberal idiots) the rats. The ka-bar works, too.
These filthy morons have done far more harm than all our foreign enemies.
averagemelon commented:
Everyone assumes the current Washington Axis of Idiots actually wants to make things good for average Americans…..NOT. They are only attempting to make themselves global gods by destroying the rest of us.
Not
Going
To
Happen.
Marsh commented:
We’re sitting on trillions of dollars and millions of jobs just to prevent seals and baby owls from crying. Environ-mental-ism is a just a front for anti-capitalist Marxism.
Nelle commented:
Being energy independent is such a no-brainer that even liberals are supposedly for it. To them it means endless acres of solar panels and big eyesore windmills everywhere except within sight of Ted Kennedy’s grave. It means light bulbs with mercury in them and cars with hydrogen fuel cells for the wealthy, or for the rest of us, cars sucking what electricity we can make with windmills out of our houses.
Yet we have trillions of dollars worth of oil, gas, coal. We could prosper, if not for the liberals.
wanumba commented:
Sauid Arabia must like this situation, and Iran, and Libya. Guaranteed market, they get richer.
pontoon commented:
Drill here
Drill now