Yesterday, The Hill posted an article on the cost of the offshore oil drilling ban. A recently released report by the Science Applications International Corporation (SAIC) and the Gas Technology Institute (GTI) states that U.S. oil-and-gas drilling bans will increase consumer energy costs and decrease cumulative U.S. GDP by $2.36 trillion over the next two decades.
The report was commissioned by the National Association of Regulatory Utility Commissioners.
The article points out:
"The Consumer Energy Alliance, which counts energy companies among its funders, highlighted the findings today. David Holt, the group's president, said it's easy to measure how energy development adds to jobs, stable energy prices and other benefits."
It does seem rather odd that a country such as America, that is so rich in natural resources, would refuse to develop them. Think of the jobs, the tax money going to the government to help reduce the deficit, and the increased national security that would result from energy independence.
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