Tag Archives: Jobs

News

New CBO study: lifting drilling restrictions would increase U.S. energy reserves by 30%

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From CNS News.

Excerpt:

 A report from the Congressional Budget Office (CBO) estimates that lifting the ban on federal oil drilling in certain areas could increase U.S. petroleum reserves by 30 percent, including an estimated 8 billion barrels of oil in the Alaska National Wildlife Refuge (ANWR).

Using estimates from the Department of the Interior (DOI), CBO said that lifting federal drilling restrictions could bring billions more barrels of oil and gas to market.

“CBO estimates that about 175 billion barrels of oil equivalent (BOE) exists in undiscovered oil and gas reserves on federal lands (excluding most of the natural gas reserves in Alaska)—nearly half of it in the central and western parts of the Gulf of Mexico,” CBO said.

“About 70 percent of the undiscovered oil and gas is under federal control on lands that are currently open to leasing; thus, additional receipts would come from opening the other 30 percent to leasing and production.”

Thus, by lifting federal drilling bans in place in areas like ANWR and areas of the Outer Continental Shelf, oil-producing companies could gain access to an additional 30 percent of U.S. reserves – 52.5 billion barrels.

While the reserves are technically recoverable – meaning oil companies could extract the oil and gas — legal restrictions and current administration policies prohibit oil companies from doing so.

CBO excluded most of Alaska’s gas reserves because there is no infrastructure in place to transport the gas to market, a fact CBO said made them unlikely to be tapped.

The figures come from an August 9 CBO report examining the benefits the federal government would receive if it lifted all current drilling bans on federal lands, including ANWAR.

All that oil would create a lot of jobs, too. But we know from the last four years that the Obama administration has no interest in either producing more energy or creating jobs. Otherwise, they would have built the Keystone XL pipeline and lifted these restrictions on drilling.

Videos

Peter Robinson interviews Paul Ryan on fixing Washington

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Here’s a 47-minute interview with the Republican candidate for Vice President.

Topics:

  • health care reform
  • patient-centered health care
  • patient choice
  • price and quality competition
  • reducing costs
  • empowering states
  • education reform
  • separate health care from the employer and attach it to the worker
  • the root cause of rising health costs
  • the moral hazard caused by government spending “makers vs. takers”
  • fixing dependency on the government by changing incentives
  • how Republicans can get votes from Democrats and Independents
  • how far is America from becoming Greece?
  • is the debt crisis avoidable?
  • the importance of the 2012 election
  • reforming Social Security

Best quote: “we need to kick this thing upstairs to the American people” (on letting the people decide instead of government).

H/T Rocking With Hawking.

News

Ohio coal mine closes because of Obama administration environmental policies

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From CNS News.

Excerpt:

A stop not scheduled during the president’s third visit to the battleground state in four weeks was a coal-mining operation near Brilliant, Ohio, run by Ohio American Energy Inc., a subsidiary of Murray Energy Corp. The operation employed 239 workers at its peak but will be closing as the result of President Obama’s environmental policies.

Regulatory actions by President Obama and his appointees and followers were cited as the entire reason in the press release that announced the closing. “Mr. Obama has already destroyed 83,000 megawatts of coal-fired electricity generation in America,” said Michael T.W. Carey, vice president of government affairs for Murray Energy. “Electric prices in the recent PJM Interconnection monthly auction were bid up 800% for 2015-16 because of this,” he added.

PJM Interconnection, the company that operates the electric grid for 13 states, including Ohio, recently held its 2015 capacity auction. This gave the first real indication of just how drastic the effects of Obama’s war on coal will be. The market-clearing price for new 2015 capacity was $136 per megawatt.

That’s eight times higher than the price for 2012, which was just $16 per megawatt. In Pennsylvania, the new market price is $167 per megawatt — 10 times higher. In northern Ohio, which is suffering from more forced coal-plant retirements than the rest of the region, the 2015 price is an astounding $357 per megawatt.

This is one campaign promise President Obama has kept. In 2008, candidate Obama promised a system under which “if somebody wants to build a coal-powered plant, they can; it’s just that it will bankrupt them because they’re going to be charged a huge sum for all that greenhouse gas that’s being emitted.”

I’m sure that some of the people who lost their jobs voted for Obama. Maybe they were even familiar with that quote of his. But they just didn’t put two and two together to make four. Will you do that in November? I think that the one thing you want to do in life is to NOT hurt yourself with your own actions. Never vote to take away your own job.