Job Creation in Texas and South is possible

It is being held back by the Obama Administration’s directives. Read this in the HOUSTON CHRONICLE

The Gulf can provide jobs
By JIM NOE

For many Americans, it’s shaping up to be quite a summer. Job numbers are not ticking up as expected, the economy seems to still be sputtering along and gas prices are sitting near all-time highs right when families like to drive somewhere for vacation.

Now imagine that you work in the Obama administration. You’re presented with evidence that a little bureaucratic streamlining brought on by a rethink of policy priorities could create tens of thousands of jobs within three years while simultaneously improving the country’s energy security. And then you’re shown polls demonstrating that Americans would support your initiative. How quickly would you act to make this idea happen?

The path forward to creating jobs, promoting economic growth and improving America’s energy security goes right through the Gulf of Mexico, where efforts to generate fossil-fuel production in both shallow and deep waters have been virtually hamstrung since the Macondo blowout of April 2010. Unfortunately, the administration’s energy policies — encapsulated by its ever-changing approach to offshore drilling – have frustrated efforts to more productively use our nation’s vast domestic resources while our country transitions to a blended energy portfolio geared toward next-generation, sustainable sources of fuel.
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According to a study released last week by the National Ocean Industries Association and the American Petroleum Institute, total employment supported by a healthy Gulf of Mexico oil and natural gas industry could exceed 430,000 jobs by 2013 – an increase of 77 percent, or 180,000 jobs, over the low levels of 2010 when activity in the Gulf was brought to its knees by the deep-water moratorium and a drastic slow-down in the issuance of permits for shallow-water operations.

The catch is, the study’s projected employment growth is contingent upon the ability of regulators in the Department of the Interior to once again issue permits for safe and responsible drilling in a timely and efficient manner – something that hasn’t been seen since last April. In other words, failure to improve the government’s offshore-permitting process will leave jobs on the table and economic activity bottled up at a time when the country is scrambling to create work and stimulate growth.

In Texas alone, spending on offshore oil and gas development dropped nearly 17 percent from 2008 to 2010, to $7.3 billion. If the permitting process gets back into shape, the report predicts that spending would increase to $12.5 billion in 2013, which would result in an increase of 32,060 direct jobs by 2013, with indirect jobs growing to over 108,000.

But whether that regulatory process improves is a big if at present. Currently we import 9.4 million barrels of oil every day, sending nearly $1 trillion out of the country each day to buy foreign oil. And as we dawdle and debate today over where to drill, our reliance on foreign suppliers grows stronger.

Lots more here.

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