Obama Energy Announcement: More Imported Oil, Less Domestic Production, Fewer Jobs

March 31, 2010
By CMAC

Washington, DC – Earlier this morning, President Obama delivered remarks at Andrews Air Force Base on offshore energy exploration and production, and what a scene it was. While many newspapers and cable news pundits cheered the announcement as a positive development, we at the Institute for Energy Research caution lawmakers, the media, and the American people from rushing to conclusions until all the facts are on the table. This is a huge step backward for America’s energy security.

Prior to today’s announcement, the vast majority of OCS areas were open for business. No longer. Today, while President may have stated his support for increased energy development in the Eastern Gulf (which requires congressional action) and the Southern Atlantic (which he’ll study over the next year), he also announced that he would delay the development of the energy resources off Virginia’s coast and lock up vast resources off the Alaskan coast.


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