So, late last month, the President reversed course, and ordered deepwater exploratory drills in the Gulf to cease work; a suspension of Gulf energy exploration for at least six months; and a stop to developing certain areas off Virginia and Alaska.
Given the importance of energy exploration and development to the U.S. economy, this is not a decision rooted in sound economics and policy. Therefore, one wonders if it's all about politics...
1 comment:
Nice post, Ray.
It’s true that the president’s six-month deepwater drilling moratorium could have negative effects for workers and families along the Gulf Coast—and across the country: 120,000 lost jobs by 2014, $120-150 million in lost government royalties, and less domestic energy.
Access to affordable energy impacts every sector of our economy.
Jane Van Ryan
American Petroleum Institute | blog.energytomorrow.org
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