All credit to the Institute for Energy Research for not getting distracted by financial developments and reminding us all of a moment of legislative history, the expiration of the federal statutory moratorium on Outer Continental Shelf oil and natural gas drilling.
A statement from Thomas Pyle, IER’s president:
“Given the integral role affordable energy plays in the health and vitality of our economy, the ban on offshore energy has been tantamount to withholding food from the starving. It defies logic, common sense, and the state of our technological capabilities all at once. Its complete repeal could lead to one of the biggest economic stimulus this nation has ever experienced, and it could not have come at a better time.”
“Unfortunately, many of the environmental laws and regulations concerning offshore energy production are older than the ban itself, and simply do not reflect the technological breakthroughs that have enabled us to produce energy and protect the environment at the same time. These outdated laws – and those who file frivolous lawsuits based on them – threaten to stop forward progress on greater offshore energy production. That’s why it is critical for the American people to continue their call for increased production of the energy resources they own beneath federal lands. Repealing this ban is just the start.”
You want a vital economy and affordable energy, repealing the ban is just a start.
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