Power LInes: October 26, 2011
IN THE NEWS
According to an op-ed in yesterday’s Wall Street Journal, expanding the nation’s natural gas infrastructure should be part of the solution for getting Americans back to work. With the unemployment rate for the month of September at 9.1 percent—the same rate as August and the second highest monthly level in 2011—removing barriers to energy production could result in good paying private sector jobs.
The unemployment rate has been below 9 percent for only two of the last 30 months (February and March 2011). From March 2009 (the month after the failed $1.2 trillion “stimulus” was enacted) to September 2011, unemployment has averaged 9.4 percent. Prior to the enactment of the “stimulus,” the White House promised that unemployment would not rise above eight percent if the bill became law. According to the op-ed, economists calculate actual unemployment, those who have given up the job search or accepted a part-time job, to be 16.5 percent.
A consulting firm, Wood Mackenzie, recently predicted that the oil and natural gas industry would create a half-million new U.S. jobs by 2030 under existing government policy. But with more favorable policies, up to 1.5 million new jobs would be created and tax revenues would rise by $800 billion.
WHAT ARE HOUSE REPUBLICANS DOING?
President Obama’s economic policies have failed, but House Republicans remain focused on removing government barriers to private sector job creation. House Republicans’ American Energy Initiative is an ongoing effort to expand American energy production and help foster an environment for job creation. These three bills, recently approved by the House Natural Resources Committee, would increase America’s energy security and boost the economy by putting our country’s abundant natural resources to use.
- H.R. 2842, the Bureau of Reclamation Small Conduit Hydropower Development and Rural Jobs Act of 2011 would streamline burdensome red tape and reduce administrative costs for the installation of increased small canal and pipeline hydropower development projects. Increased small hydropower installation will create jobs, add clean, inexpensive electricity to the grid and supply the federal government with additional revenues while modernizing infrastructure.
- H.R. 2360, the Providing for Our Workforce and Energy Resources (POWER) Act would ensure that laws governing offshore oil and gas development are also applied to offshore renewable energy development. The bill would create certainty in offshore energy production, which increases opportunities for offshore renewable energy and job creation in places like the Gulf of Mexico.
- H.R. 2752, the BLM Live Internet Auctions Act would save taxpayer money and decrease the likelihood of fraud by allowing the Secretary of the Interior to conduct onshore oil and natural gas lease sales through a live Internet Auction.
For questions or further information contact Sarah Makin
For additional information, contact:
The House Republican Conference Policy Office
