Oil Study Urges Offshore Deregulation

Tuesday, 12 Jul 2011 12:18 PM

  Comment  |
   Contact  |
  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.

  Comment  |
   Contact  |
  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:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Ferguson Prosecutor: Some Witnesses Were 'Not Telling the Truth'

Friday, 19 Dec 2014 22:48 PM

Some witnesses who appeared before the grand jury investigating the death of unarmed black teenager Michael Brown were " . . .

Judge Dismisses Suit on Oklahoma Execution Access

Friday, 19 Dec 2014 22:40 PM

A federal judge on Friday dismissed a lawsuit filed by media organizations seeking greater access to the execution of Ok . . .

GOP Lawmakers Write Obama on Power Plant Pollution Regulations

Friday, 19 Dec 2014 22:06 PM

Ninety-six Republican lawmakers have signed a letter urging President Barack Obama to drop the Environmental Protection  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

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