Americans working to bring American energy to Americans. Great story line and you’d think that an American President beset with high unemployment, a bad economy and rising energy prices would do everything in his power to facilitate the energy industry in creating jobs and reducing our dependency on foreign oil. Not this president. Obama is intent on destroying the U.S. energy industry and driving up energy prices so that we’ll buy windmills and electric weezermobiles.
America’s energy-rich western states stretching from North Dakota and Montana on the Canadian border to New Mexico on the Southern border can produce enough oil and natural gas to replace what America presently imports from Saudi Arabia, Nigeria, Columbia, Algeria, Iraq, Russia, Venzuela, and Kuwait, according to a new study conducted for the Western Energy Alliance.
The study was conducted for the alliance by EIS, with data analysis provided by ICF.
According to the study’s executive summary, the western states can produce as much as 1.3 million barrels of oil per day by 2020, and 6.2 trillion cubic feet of natural gas annually by the same year.
Other finds of the study include:
• Investment in western energy development could increase to $58 billion annually by 2020. This prospective growth is more than double the investment made in 2010.
• The number of direct, indirect and induced jobs in the oil and natural gas sector is projected to increase by 16% to 504,120 by 2020.
• Annual state severance tax collections in the West are projected to increase from $2.1 billion in 2010 to $5.6 billion by 2020, generating a significant revenue windfall for schools, infrastructure and other basic services.
One of the great benefits of exploring for and producing our own abundant natural resources is that our domestic energy supply is not subject to geopolitical issues which can cause wild fluctuations in energy prices. It’s a sad irony that U.S. exploration companies can find and bring home oil from strife torn hellholes like Angola and Nigeria but are prevented by the U.S. government from exploring in our own country.
Be sure and watch the video to see how government regulation is stifling what should be one of our greatest opportunities for job growth and energy independence.
