Our Standard of Living and prosperity are closely and directly related to energy production and use. It is a hallmark of an advanced society. A strong and stable energy sector is a job generator and a catalyst of economic growth, not only in the labor-intensive energy industry but also in manufacturing. Low-cost energy creates jobs and raises our Standard of Living. We must encourage and ensure diversified domestic sources of energy, from research and development, exploration, production, transportation, transmission, and consumption in a way that is economically viable and job-producing, as well as environmentally sound. When our energy industry is revitalized, millions more Americans will find work in manufacturing, food production, metals, minerals, packaging, transportation and other fields.
At a time when unemployment has been up for the longest stretch since the Great Depression, and some 23 million Americans are either unemployed, underemployed, or have given up on finding work, we should be pursuing our oil and gas resources both on and offshore. It is nonsensical to spurn real job creation by putting almost all of our coastal waters off limits to energy exploration, while urging other nations to explore their coasts.
The current Administration has used taxpayer dollars to pick winners and losers in the energy sector while publicly threatening to bankrupt anyone who builds a new coal-fired plant and has stopped the Keystone XL Pipeline through deliberate inaction. The Administration has wasted billions of taxpayers’ dollars by subsidizing favored companies like Solyndra, which generated bankruptcies rather than kilowatts.