Wednesday, March 29, 2017

Trump Administration Will Boost the US Economy

The president signed an executive order to rescind 6 of Obama's executive orders on climate change. The EPA also rescinded a requirement for energy companies to turn over large amounts of data, thus lightening their reporting requirements. The Permian Basin of Texas and New Mexico may produce more oil than Saudi Arabia's Ghawar field, currently the largest oil field in the world.
Alaska is a particularly good spot for drilling as the Beaufort and Chukchi Seas contain an estimated 23.6 billion barrels of oil and 104.4 trillion cubic feet of natural gas. Developing offshore drilling is supported by 73 percent of Alaskans, according to a 2014 poll. Studies by industry groups estimate that offshore drilling would create 840,000 American jobs and nearly $200 billion in revenue for the government by 2035.
Opening up the reserve to oil drilling would create an estimated 736,000 new American jobs, according to an economic analysis. As much of Alaska’s land is controlled by the federal government, fracking there could bring big financial benefits to taxpayers. A Yale University study in 2007 showed that the oil beneath the Arctic National Wildlife Refuge (ANWR) could be worth $374 billion at oil prices only a little above today’s.
There is a 95 percent probability that at least 5.7 billion barrels of oil are recoverable in ANWR....
Finally, of the EU, only Sweden, Germany and France are foolish enough to comply with the ridiculous Paris climate change goals.

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