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Drilling Ban To Cost Trillions
Investors.com ^ | February 16, 2010 | INVESTORS BUSINESS DAILY Staff

Posted on 02/16/2010 4:16:12 PM PST by Kaslin

Energy: A new study shows that our reluctance to develop domestic energy will cost the beleaguered U.S. economy trillions in opportunity costs, reduce our gross domestic product and increase our trade deficit.

From trying to stimulate jobs in nonexistent ZIP codes at great expense to worshiping the false gods of climate change, our biggest deficit these days may be in the area of common sense. A new study shows that many of our wounds are self-inflicted as we forgo the wealth and jobs to be found in our waters and under our feet.

The study by Science Applications International Corp. at the request of the National Association of Regulatory Utility Commissioners, the Gas Technology Institute and others shows the U.S. economy will suffer $2.3 trillion in lost opportunity costs over the next two decades, monies that would go a long way to reining in runaway deficits and creating economic growth.

Critics will say this is another self-serving study paid for by oil industry groups, but unlike the climate change fantasies concocted by the Intergovernmental Panel on Climate Change and Britain's Climatic Research Unit at the University of East Anglia, the study's data can survive fact-checking and the conclusions are rooted in reality.

Drilling restrictions in Alaska's Arctic National Wildlife Refuge and in offshore areas such as the Chukchi Sea and Outer Continental Shelf, the report says, are denying us access to at least nine years' worth of total U.S. oil and gas consumption.

(Excerpt) Read more at investors.com ...


TOPICS: Business/Economy; Culture/Society; Editorial; Extended News; Front Page News; Government; News/Current Events; Russia; US: Alaska; US: Louisiana; US: Montana; US: New York; US: North Dakota; US: Pennsylvania; US: Texas
KEYWORDS: 2010; ahmadinejad; ak; alaska; anwr; bakken; bakkenformation; bakkeshale; barnettshale; bho44; bhoeconomy; bhoenergy; bigoil; capandtax; capandtrade; chavez; china; chuckchisea; climatechange; coldwar2; continentalshelf; cru; crude; crudeoil; deficits; democrats; djsob; domesticenergy; domesticoil; drillanyway; drillbabydrill; drillbarrydrill; drillgate; drillheredrillnow; drillingban; drillobama; ecofascism; ecomarxism; economicgrowth; economy; energy; energycosts; energyindependence; energyprices; energysupply; envirofascism; enviromarxism; foreignoil; gasprices; gdp; globalwarming; hugochavez; ibd; ipcc; iran; jobs; kensalazarshale; louisiana; marcellus; marcellusshale; montana; naturalgas; newyork; northdakota; nuclearpower; obama; obamamoratorium; ocs; offshore; offshoredrilling; offshoreoil; oil; oilindustry; oilresources; oilshock; oilsupply; pennsylvania; petroleum; putin; russia; salazar; shale; shaleformations; shalegas; shaleoil; sovietunion; texas; trade; tradedeficit; tx; venezuela; vladimirputin

1 posted on 02/16/2010 4:16:12 PM PST by Kaslin
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To: Kaslin

Well, that’s not surprising given how anti-liberty our government really is.


2 posted on 02/16/2010 4:19:10 PM PST by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: Kaslin

We are doing all we can to be DEPENDENT on our “unstable” enemies and bankrupt the country while we do it. Soon, Obama will get his wish - we will be a third worold country.


3 posted on 02/16/2010 4:19:17 PM PST by nmh (Intelligent people recognize Intelligent Design (God).)
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To: nmh

At least Obama wants us to move towards more nuclear. But, this fixation with polar bears and the rugged beauty of the Arctic and beaches is making us more dependent on foreign oil.

Liberals/radicals/enviro-nazis are child-like in their thinking. They don’t realize that life involves trade-offs. They get fixated on polar bears, even if it means we aren’t permitted to develop our own energy resources. It’s sad to have such people get to positions of authority.


4 posted on 02/16/2010 4:30:14 PM PST by Dilbert San Diego
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To: Kaslin

Obie seems to think that if he goes for a couple new nukes ready in 8 years, we don’t need any more oil today.


5 posted on 02/16/2010 4:32:34 PM PST by Right Wing Assault (The Obama magic is fading.)
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To: nmh

A third world country? Ha, when he is through we will most likely be a 4th world country. <p. Impeach that p o s


6 posted on 02/16/2010 4:33:14 PM PST by Kaslin (Acronym for Obama: One Big Ass Mistake America)
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To: Kaslin
When will the Democrat's lies be put down. They have been running the energy independence scam for 30 years. According the US EIA the USA has more fossil fuel resources than any other nation.

And do you want to see how the wind and solar energy is working out for you, when the government money runs out, the derelict wind and solar power systems are abandoned. I bet you may have seen a few of these highlighted as the future of clean energy, now abandoned. See how many you recognize from the glory days.

I wonder why they were abandoned?

7 posted on 02/16/2010 4:33:14 PM PST by Tarpon ( ...)
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To: OneWingedShark

Not surprising the majority want zer0 to go. Now


8 posted on 02/16/2010 4:34:16 PM PST by reefdiver ("Let His day's be few And another takes His office")
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To: reefdiver

.
Bump!


9 posted on 02/16/2010 4:41:27 PM PST by Touch Not the Cat
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To: Kaslin
A new study shows that our reluctance to develop domestic energy will cost the beleaguered U.S. economy trillions in opportunity costs, reduce our gross domestic product and increase our trade deficit.

Here you have it in condensed format: Obama's latest "JOBS" plans for millions upon millions of unemployed Americans (while he continues to keep us dependent upon his Saudi "friends." )

10 posted on 02/16/2010 4:46:17 PM PST by MamaDearest
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To: MamaDearest
..too many Saudi sidestream cash rivers flowing to Sneakyman Inc. would dry up if domestic oil was the 'big ticket'.

Whatever you do , don't google Marvin Bush.

11 posted on 02/16/2010 4:51:20 PM PST by norraad ("What light!">Blues Brothers)
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To: Kaslin
From trying to stimulate jobs in nonexistent ZIP codes at great expense to worshiping the false gods of climate change, our biggest deficit these days may be in the area of common sense.

Beaut! That's gotta hurt!

12 posted on 02/16/2010 5:01:29 PM PST by CRBDeuce (here, while the internet is still free of the Fairness Doctrine)
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To: Kaslin
"A new study shows that our reluctance to develop domestic energy will cost the beleaguered U.S. economy trillions in opportunity costs, reduce our gross domestic product and increase our trade deficit."

AND THEREFORE, THAT'S EXACTLY WHAT I'M GOING TO DO!"

13 posted on 02/16/2010 5:08:52 PM PST by Mad_Tom_Rackham (It is the duty of the patriot to protect his country from its government -- Thomas Payne)
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To: Kaslin

The planned economic destruction of America continues by the Obamaites.


14 posted on 02/16/2010 5:33:40 PM PST by M. Espinola (Freedom is never "free")
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To: norraad
Sleeping with the devil - Saudi Arabia's endless influence in America

Snips: Sleeping With The Devil is a partly (CIA) censored account of how the United States, or rather Washington, D.C., has been cohabiting with Saudi Arabia for decades under both Democratic and Republican administrations. Let's understand why.

Baer notes that every Washington think tank has taken Saudi money, as have numerous lobbyists, PR firms, lawyers, and every presidential library of the last thirty years. Nor is this all.

Despite CIA censorship, Sleeping With The Devil reveals that there is hardly a living former CIA director, assistant secretary of state for the Near East, White House staffer, or member of Congress who hasn't ended up on the Saudi payroll in one way of another. "At the corporate level, almost every Washington figure worth mentioning has served on the board of at least one company that did a deal with Saudi Arabia."

15 posted on 02/16/2010 5:52:45 PM PST by MamaDearest
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To: OneWingedShark

Anti -everything. Bringing America to collapse is the name of the game.


16 posted on 02/16/2010 6:33:08 PM PST by TribalPrincess2U (demonicRATS ... taxes, pain and slow death. Is this what you want?)
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To: MamaDearest

Lawmakers can be bought and it will never change.


17 posted on 02/16/2010 6:34:35 PM PST by TribalPrincess2U (demonicRATS ... taxes, pain and slow death. Is this what you want?)
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To: OneWingedShark
Well, that’s not surprising given how anti-liberty our government really is.

Not to worry, this too shall be settled in the next revolution.

18 posted on 02/16/2010 6:52:27 PM PST by unixfox (The 13th Amendment Abolished Slavery, The 16th Amendment Reinstated It !)
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To: Kaslin

>> unlike the climate change fantasies concocted by the [IPCC and UAE], the study’s data can survive fact-checking and the conclusions are rooted in reality.

ZING! That left a mark.


19 posted on 02/16/2010 7:01:45 PM PST by Nervous Tick (Eat more spinach! Make Green Jobs for America!)
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To: Kaslin
Critics will say this is another self-serving study paid for by oil industry groups

That's actually pretty naive.

The Oil Industry has actually found the enviro-whacknuts to be useful idiots,
simple-minded scapegoats who help them keep the oil supply down and prices (and profits) propped up.

Bush/Cheney and a GOP controlled Congress could've drilled the hell out of ANWR 8 years ago if they really wanted to.

But then, their cronies couldn't have gouged us for over $4/gal at the pump then, could they?

20 posted on 02/16/2010 7:17:02 PM PST by Willie Green
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To: Kaslin

If we had a free press none of this would have happened.

Americans will come to regret Teddy R and the Progressives.

Standard Oil of NJ v. United States, the worst SCOTUS case ever, started this mess. It needs to be reversed.


21 posted on 02/16/2010 7:24:46 PM PST by 1010RD (First Do No Harm)
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To: nmh
Bambi doesn't keep his promises...so buyer beware.

Obama Plans to Undo Bush Rules on Oil Drilling on Public Lands, Among Others

http://redgreenandblue.org/2008/11/10/obama-plans-to-undo-bush-rules-on-oil-drilling-on-public-lands-among-others/

December 4, 2008

Obama may reverse Bush policies on stem cells, drilling, abortion

http://www.cnn.com/2008/POLITICS/11/11/obama.executive.orders/index.html

Obama blocks offshore drilling Feb 11, 2009 ... Wednesday, February 11, 2009 ..

http://www.washingtontimes.com/news/2009/feb/11/drilling-ban-revisited/

22 posted on 02/17/2010 7:05:44 AM PST by GailA (obamacare paid for by cuts & taxes on most vulnerable Veterans, disabled,seniors & retired Military)
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