Posted February 11, 2011
It's no surprise that Americans are concerned about the economy, about jobs and about the nation's budget deficit. In all three areas, news reports are full of dire statistics and predictions.
But there are clear and simple ways for policymakers to tackle the deficit, grow the economy and create jobs--all without investing a single taxpayer dollar--allow the U.S. oil and natural gas industry to produce more of our vast domestic energy resources.
A recent Wood Mackenzie study found that accessing U.S. oil and natural gas currently off-limits could create more than 530,000 jobs and generate $150 billion in government revenue by 2025. But instead, some would rather consider proposals to raise taxes on the industry, leading to 170,000 fewer jobs and a loss of $128 billion in cumulative government revenue.
Our industry is an engine of job creation and economic prosperity. Producing more oil and natural gas at home, which most Americans want, could create hundreds of thousands of jobs, reduce our deficit by billions and enhance our energy security.
ABOUT THE AUTHOR
Mark Green joined API after a career in newspaper journalism, including 16 years as national editorial writer for The Oklahoman in the paper’s Washington bureau. Mark also was a reporter, copy editor and sports editor. He earned his journalism degree from the University of Oklahoma and master’s in journalism and public affairs from American University. He and his wife Pamela live in Occoquan, Va., where they enjoy their four grandchildren.