Thursday, January 27, 2011

Like Gasoline? Better Hoard Some

This is getting really, really serious.

"We are talking about a transformation of the future relevance of deepwater Gulf development to U.S. domestic energy production — and a major threat to Gulf region jobs and to the nation's energy security. Based on the development impacts outlined by Wood Mackenzie, we believe as many as 125,000 jobs could be lost in 2015."

A slowdown in Gulf permitting has already cost jobs and will reduce Gulf oil and natural gas production and government revenue this year. Unless policymakers reverse course, 2011 could be the first year without a lease sale in the Gulf of Mexico since 1964.

If you think Social Security is in trouble NOW, wait until those jobs disappear.

It won't help that gasoline will be $9.50/gallon, either.


J. Strupp said...

"It won't help that gasoline will be $9.50/gallon, either."

Over, say, the next 10 years? Hell, 20 years? I'll take the under for a dime.

And directional drilling out west is easily offsetting this deficit in jobs (if they actually occur in the first place).

neomom said...

What color is the sky in Strupp's world?

No inflation, no jobs lost... They must be lovely unicorns.