Industry-backed studies cite need for new federal policy approach

07/18/2011
Nick SnowWashington EditorChanges in federal government policies to encourage more US oil and gas exploration and development would create thousands of new jobs, improve US energy security, and increase federal, state, and local government revenue, two studies commissioned by oil and gas industry associations show.By 2013, an estimated 190,000 jobs could be created, capital expenditures could rise by 140%, and operating outlays could increase by 70% offshore if the Obama administration found a way to return to permitting rates before the Macondo well blowout and oil spill, a Quest Offshore Resources Inc. study indicated.US offshore oil and gas employment would reach nearly 430,000 jobs, c...
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