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Mark Green

Mark Green
Posted January 11, 2012

Policies have consequences. Certainly, we’ve seen economic impact in the 2010 decision to halt deepwater drilling in the Gulf of Mexico and the subsequent slow pace of oil and natural gas permitting. A new study released by API underscores this:

The effects of the deepwater drilling moratorium and subsequent permit slowdown have already reduced total capital and operating expenditures in the Gulf of Mexico by a combined $18.3 billion for 2010 and 2011 relative to pre‐moratorium plans. Since April 2010, eleven deepwater drilling rigs have left the Gulf of Mexico. These rigs have gone to countries such as Brazil, Egypt and Angola. Through 2015, the investment in other regions instead of the U.S. associated with these rigs is estimated to be over $21.4 billion including drilling spending and associated project equipment orders, even accounting for the portion of equipment that will likely be manufactured in the United States. As a result of decreases in investment due to the moratorium, total U.S. employment is estimated to have been reduced by 72,000 jobs in 2010 and approximately 90,000 jobs in 2011.

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deepwater-drilling  domestic-energy  energy-policy  gasoline  gulf-of-mexico  moratorium  offshore-drilling  permitorium 

Jane Van Ryan

Jane Van Ryan
Posted April 1, 2011

Energy isn't easy. It isn't easy to produce the affordable, abundant, safe, and secure energy our nation needs today; and it certainly isn't easy to put the policies in place to ensure that we can continue that production in the future. However, there is one thing that is easy; telling everyone what they want to hear, while actually doing nothing. And a review of recent developments indicates that some politicians are trying to protect their jobs by adopting conflicting or incoherent positions that threaten the jobs of others:

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