In less than a decade, the one-time feeble U.S. energy sector has accomplished a record-breaking 180-degree turnaround thanks to advancements in new technologies. In fact, at the current rate, the nation is likely to hit production marks not seen since the 1970s.
The decision to shudder the Keystone XL pipeline makes little sense. The President rejected the proposal on the grounds there wasn’t enough time to assess its environmental impact shortly after a three year review by the State Department found the project would “ be the safest in the history of constructed pipelines”.
As the New Year moves forward, Americans are pursuing resolutions that will help them improve their lives. However, the single most important action that can benefit the nation’s businesses, industry and consumers is the advancement of sensible policies that enable the full development of the United States robust energy resources.
Today marks the one-year anniversary of the official end to the administration’s deepwater drilling moratorium in the Gulf of Mexico, a milestone the House Natural Resources Committee is appropriately marking with a hearing on the continued reverberations of that decision.
With our economy continuing to falter, the discussion of leveraging our nation’s vast energy resources to create jobs is taking on renewed importance.
"Taxing American energy companies would actually increase the debt and deficit. It would also have the unintended consequence of forcing these companies to relocate to more hospitable tax climates overseas, taking American jobs with them."
As American motorists fill up their gas tanks before hitting the road this Memorial Day weekend, headline-grabbing sticker shock is sure to follow.
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