• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • Money May Not Grow On Trees...

    …but one could argue it is buried under ground. Yesterday ICF International released a study showing that the development of domestic oil and natural gas resources that have been kept off-limits by Congress could generate more than $1.7 trillion in government revenue.

    The ICF study examined the possible development of all the offshore areas that had been subject to Congressional moratoria until last year, as well as the resources in Alaska’s Arctic National Wildlife Refuge and a small portion of currently unavailable federal lands in the Rockies. Allowing private industry to develop U.S. natural resources would lift U.S. crude oil production by 36% by 2030 and create 160,000 jobs. The Examiner editorializes:

    The recent dramatic drop in oil prices temporarily changed the short-term politics of the energy issue, but not the long-term supply/demand equation. Most of America’s economic activity depends upon oil and natural gas, and those fuels even play a significant role in the production of alternatives like ethanol. These fuels simply cannot be replaced any time soon without severe economic disruption. The only real question during the lengthy transition phase is do we develop our own domestic reserves or continue to import oil and gas from foreign nations? The answer is, as they say, a no-brainer.

    Posted in Energy [slideshow_deploy]

    2 Responses to Money May Not Grow On Trees...

    1. Pingback: Money May Not Grow On Trees… « Conservative Thoughts and Profundity

    2. Pingback: Money May Not Grow On Trees… » The Foundry | kozmom

    Comments are subject to approval and moderation. We remind everyone that The Heritage Foundation promotes a civil society where ideas and debate flourish. Please be respectful of each other and the subjects of any criticism. While we may not always agree on policy, we should all agree that being appropriately informed is everyone's intention visiting this site. Profanity, lewdness, personal attacks, and other forms of incivility will not be tolerated. Please keep your thoughts brief and avoid ALL CAPS. While we respect your first amendment rights, we are obligated to our readers to maintain these standards. Thanks for joining the conversation.

    Big Government Is NOT the Answer

    Your tax dollars are being spent on programs that we really don't need.

    I Agree I Disagree ×

    Get Heritage In Your Inbox — FREE!

    Heritage Foundation e-mails keep you updated on the ongoing policy battles in Washington and around the country.

    ×