From The Foundry:
One of the few bright spots over the past few years in America’s economy has been energy production, but this has occurred largely in spite of this Administration’s energy policies, not because of them.
And the simple fact remains that our energy economy could be even brighter, but egregiously burdensome regulations have stifled energy projects or threaten to dim the lights on the successful energy endeavors that have created jobs and increased supply to put downward pressure on prices. The President has doubled down on wasting billions of dollars to subsidize politically preferred energy sources. Although he has aimed to save or create jobs, in the energy sector he is destroying jobs, threatening to destroy jobs, or failing to create them.
Here are 10 of the most troubling energy and environmental regulations implemented or proposed by the Obama Administration.
- Slowing energy production on federal lands. According to a recent report from the Energy Information Administration (EIA), energy production decreased 13 percent on federal lands in fiscal year (FY) 2011 when compared to FY 2010. The official moratorium and de facto moratorium as a result of a molasses-like permitting process reduced planned capital and operating investments by $18.3 billion and cost the Gulf more than 900,000 jobs in just the past two years. Federal production in the West has experienced a similar fate: The Administration’s delays on permitting oil and gas projects public lands are preventing economic activity. In Utah and Wyoming, for instance, 20 projects held up by the National Environmental Policy Act process is preventing the creation of 120,905 jobs, $27.5 billion in economic activity, and $139 million in government revenue.