A study released today by Wood Mackenzie told you everything you needed to know about what’s wrong with Obama on jobs. The report estimates that across the country 1.4 million jobs could be created if the federal government would stop delaying the development of existing energy resources in the country.
“U.S. oil and natural gas policy changes could generate more than 1.4 million new jobs,” said a statement with the report, “$800 billion in additional government revenue, and 10 million barrels worth of added daily oil and natural gas production by 2030, according to a study by Wood Mackenzie released today by API. New jobs could be added in every state.”
All that’s needed are policy changes by Obama via his signature on a piece of paper- or even just a phone call to a cabinet secretary- and we could be adding jobs tomorrow while reducing our dependence on Middle East oil to next to nothing.
So what is Obama doing? Killing those jobs, ignoring that energy.
And Obama’s refusal to develop those resources has him at odds with the American people. Recent polling indicates that seventy-six percent (76%) of voters say the country is heading down the wrong track. Clearly, something needs to be done to turn the train around and head in a different direction.
Three recent news stories—all under-reported—offer more snapshots of the wrong-headed energy and jobs policy followed by Obama.
The Julia Field
Exxon is in a legal battle with the US government. The company has a new oil discovery in the Gulf of Mexico in what is called the Julia Field. Exxon reports an estimated one billion barrels of recoverable oil—worth potential royalties to the government of $10.95 billion. The discovery is believed to be the largest in the Gulf of Mexico. (Note: we are not out of oil; we keep finding more.)
In its exploration, Exxon is known for moving slowly and studying all the options before committing billions of dollars—using the best technology and science to utilize the shareholders’ risk capital. This is good. Deep-water exploration is difficult and complex. It needs to be done right.