Oil Study Urges Offshore Deregulation

Tuesday, 12 Jul 2011 12:18 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
The oil industry says that nearly 190,000 new jobs would be created by 2013 by ending the stiff regulations imposed on offshore drilling in the United States after the Gulf of Mexico oil spill, reports DailyCaller.com.

A joint study commissioned by the National Ocean Industries Association (NOIA) and the American Petroleum Institute (API) suggests that deregulation would help the offshore industry to support 400,000 employees and that oil production would boost gross domestic product to $45 billion by 2013.

“The president says he wants ideas for putting Americans back to work right now,” API president Jack Gerard said during a conference call with reporters. “So we urge him, again, to take a look at policies that will encourage oil and domestic gas development.”

Gerard and his NOIA counterpart, Randall Luthi, said that it is crucial that the industry be allowed to explore new oil deposits to dramatically decrease reliance on foreign oil supplies.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Joe Scarborough Denies Lobbying Hard for 'Meet the Press' Job

Thursday, 24 Jul 2014 23:07 PM

MSNBC's Joe Scarborough denied reports Thursday that he and his Morning Joe co-host Mika Brzezinski have been "aggress . . .

Laura Ingraham: Rand Paul Closest to Americans on Foreign Policy

Thursday, 24 Jul 2014 21:43 PM

Kentucky Sen. Rand Paul, accused of being an isolationist by some fellow Republicans, is actually more in step with the  . . .

Legal Analyst Coffey: Ariz. Execution Won't Affect Death Penalty

Thursday, 24 Jul 2014 20:22 PM

Don't expect Arizona's controversial execution of Joseph Rudolph Wood to put a damper on the death penalty, veteran lega . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved