Caruba: Obama’s War on U.S. Energy
By Alan Caruba
Monday, January 20, 2014
There is no reason for the U.S. to be in such a slow recovery from the financial crisis of 2008.
If President Obama would get out of the way, our national debt could be dramatically reduced and hundreds of thousands of jobs would be created in the nation’s energy sector, leading to the expansion of its manufacturing sector and still more jobs.
As Daniel Simmons, the Director of Regulatory and State Affairs for the Institute of Energy Research told the House Oversight and Government Reform Subcommittee on Energy Policy, Healthcare and Entitlements in February 2013:
“The federal estate contains vast energy resources, but the federal government allows energy production on a very small percentage of taxpayer-owned federal lands. The Interior Department has leased just two percent (2%) of federal offshore areas and less than six percent (6%) of federal onshore lands for oil and gas development.”
“These technically recoverable resources total 1,194 billion barrels of oil and 2,150 trillion cubic feet of natural gas that is owned by the federal taxpayer…the value of the estimated oil resources is $119.4 trillion and the value of the estimated natural gas resources is $8.6 trillion for a grand total of $128 trillion.”
As 2014 began, Mark D. Green, editor and lead contributor to Energy Tomorrow, a project of the American Petroleum Institute, noted that “Oil and natural gas are the energies of our lives.” They heat and cool our homes and apartment dwellings. They fuel our vehicles and aircraft. They are components of products we use every day. “Every day 143 U.S. refineries convert an average of 15 million barrels of crude oil for these uses and more.”
Green also noted the important role the energy industries play in our economy, citing the “5.6 percent (5.6%) of total U.S. employment. “With the right policies in place—pro-development policies that increase access to domestic reserves—the industry could add another 1.4 million jobs by 2030.”