February 23, 2009

AEA says United States can drill for jobs

The American Energy Alliance said lifting the U.S. prohibition on new offshore drilling would provide 1.2 million jobs and substantial revenue.

In a statement ahead of the U.S. House of Representatives Natural Resources Committee hearing scheduled for Tuesday on the issue of offshore drilling, the AEA said opening the Outer Continental Shelf to drilling would provide a total of $2.2 trillion in tax receipts and $70 billion in wages each year.

Increased offshore activity would fuel our economy without squandering taxpayer funds, AEA President Thomas Pyle said in a statement.

In fact, oil and gas is one of the U.S.'s only industries in a position to put money into, rather than take money out of, the government's piggy bank, Pyle said in a statement.

Citing an estimated 3 million jobs losses expected in the current recession through 2009, this nation cannot afford to allow Congress to pass up the opportunity to tap into the OCS and its rich energy resources, Pyle said.