Obama's Ant-Drilling Agenda Cost Jobs

[William M. Finley]

Obama’s Anti-Drilling Agenda Costs Jobs Across America

• Posted by Asst Natl Dir Mellie B on March 25, 2011 at 2:30pm in Capitalism, Socialism, and America
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Posted March 25th, 2011 at 8:05am in Energy and Environment 

President Obama’s hometown of Chicago is nearly 1,000 miles from the Gulf of Mexico. But like many other communities across the country, it is suffering the consequences of his Administration’s anti-drilling agenda.

Illinois accounted for $376.2 million in shallow-water drilling expenditures over the past three years, according to an analysis by 14 oil and gas companies that spend money on vendors and subcontractors. The bulk of that money—$242.2 million—was spent in the Chicago district represented by Representative Danny Davis (D–IL).

It’s fresh evidence that Obama’s anti-drilling agenda is having a ripple effect across America since last year’s oil spill, claiming jobs not just in Louisiana and Texas but also in communities far removed from the shipyards in the Gulf of Mexico.

The study from the Shallow Water Energy Security Coalition paints a picture of the nationwide economic ramifications. Obama can’t even be blamed for playing politics. Five of the states that benefit most from shallow-water drilling backed him as a candidate in 2008. And Democrats represent many of the congressional districts that stand to lose millions. 

The cost in jobs is startling. A new analysis by Louisiana State University professor Joseph Mason projects national job losses at 19,000 from the drilling moratorium, with wage losses at $1.1 billion. About one-third of those jobs are located outside the Gulf region.

Nearly a year after imposing his anti-drilling agenda, it’s quite clear that Obama is carrying out misguided policies causing widespread harm.

And job losses aren’t the only consequence. The Obama Administration’s deliberate delay in issuing permits for both deepwater and shallow-water drilling has led to a sharp decline in oil production for the Gulf of Mexico this year. The U.S. Energy Information Administration puts the figure at 240,000 fewer barrels every day.

With gas prices hovering around $3.56 per gallon nationwide, now is not the time to lower production. The only way to reduce America’s dependence on foreign oil is to produce more of it here at home.