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Senior Advisor

Create private sector jobs

It could be done with little to no tax money.

 

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Alberta's oil and gas industry supports more than 271,000 direct jobs and hundreds of thousands of indirect jobs in sectors such as construction, manufacturing and financial services. The province has an unemployment rate of 5.6%. There are also some 960 American companies involved in Alberta energy, supplying equipment and technology, among other things. As an example, Mr. Liepert says, "dozens of Caterpillar tractors, made in Illinois and Michigan and costing $5 million a piece" work the oil sands. He says the region is on track to create more than 400,000 direct American jobs by 2035. The Bakken region of North Dakota, where private land ownership gives drillers relief from federal obstructionism, shares a similar, if smaller, story. Oil production there is booming, and North Dakota unemployment is 3.3%.

 

TransCanada's Keystone XL pipeline, if the U.S. ever issues the permit, will mean $20 billion in investment. The company says the construction phase will require 13,000 direct hires and indirect new jobs could total 118,000 in the U.S.

But Keystone XL is only a fraction of the potential that could be released if Mr. Obama changed his energy policy. In a study commissioned by the American Petroleum Institute and released last week, the energy consultancy Wood MacKenzie estimates that pro-development policies could, by 2030, "support an additional 1.4 million jobs, and raise over $800 billion of cumulative additional government revenue."

On the other hand, according to the study, current policies "which slow down the issuance of leases and drilling permits, increase the cost of hydraulic fracturing through duplicative water or air quality regulations, or delay the construction of oil sands export pipelines such as Keystone XL, will likely have a detrimental effect on production, jobs, and government revenues."

A serious jobs proposal would address these issues. Mr. Obama doesn't have one.

 

http://online.wsj.com/article/SB10001424053111904836104576560933917369412.html

13 Replies
Highlighted
Senior Contributor

Re: Create private sector jobs

With politicians like our Governor blocking the permit for the Keystone pipeline because they don't like the route it crosses Nebraska, I wouldn't hold my breath for this type of job creation.   

Highlighted
Veteran Advisor

Re: Create private sector jobs

I always wondered why the government takes such a 'don't drill' point of view on oil. 
We import great amounts of it, bleeding dollars to other countries, many of whom stand against the US.

We are going to use the oil anyway, why not put Americans to work producing it, instead of others.

Take the Gulf of Mexico, for example.  Somehow, it is not good when US companies drill there, but within sight of the US, there are Mexican rigs drilling away.  If the US companies were allowed to drill, what makes  anyone think they would be more likely to cause problems than a Mexican drilling rig?

I don't know what the details of the pipeline are.  I live in Nebraska, and most of what I am hearing both ways are from out of state special-interests, and a few noisemakers.

Highlighted
Senior Advisor

Re: Create private sector jobs

Do you think current oil leases are being exploited to the fullest? Is it that oil companies have no place to drill Or is it that they want to tie up the most lucrative sites for further production?

 

Do you know that Texas and Alaska have no state income tax. Do you also know that both states get huge revenues from royalties from oil production. What about the US? Doe we get huge royalties from oil production on poublic lands and offshore drilling? Why do we never hear about that? Do oil companies have a sweetheart deal from the federal government. Just asking but there are those that want to continue subsidizing the oil companies  while allowing them to escape civil lawsuits for injuring the enviroment of their neighbors.

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Veteran Advisor

Re: Create private sector jobs

We also EXPORT more than we produce so a lot of the imported oil is sent straight out as soon as it gets here.  We could stop that practice and the need to drill more in our country would be greatly reduced.

Highlighted
Veteran Advisor

Re: Create private sector jobs

When Exxon-Mobile can turn a $10.6 billion PROFIT in just 3 months, they sure as hades don't need tax subsidies!!!

Highlighted
Senior Contributor

Re: Create private sector jobs

Here's what you said up above:

 

"We also EXPORT more than we produce so a lot of the imported oil is sent straight out as soon as it gets here.  We could stop that practice and the need to drill more in our country would be greatly reduced."

 

I'm of the opinion that it matters very little how much or how little a company makes.  If you restrict who they can and cannot sell their product to, then they should be subsidized.  If you do not restrict who they can and cannot sell to, then they should not be subsidized.  Currently, oil companies are subsidized and are not restricted.  One of these needs to change.  Either we subsidize them and keep the oil here in the U.S., or we take all their subsidies away and allow them to export oil out of the U.S. 

 

I have the same opinion on farm subsidies.  However, one must keep in mind that we as U.S. ag. producers are restricted from who we can sell ag. products to via trade sanctions.  If they want to get rid of ag. subsidies, fine.  However, U.S. ag. products can never be used as a weapon again against countries that don't "behave" as we deem they should. 

Highlighted
Senior Contributor

Re: Create private sector jobs

My question. Why don't they build a refinery in Canada to refine the "tar sands oil"? A state of the art facility would increase long term employment in Canada and probably elsewhere. My guess as to the answer to my question is that someone wants to make a short term profit and doesn't care what happens down the road. The US refineries are getting old and breakdowns could be a problem.

 

http://www.eia.gov/dnav/pet/pet_pnp_unc_dcu_nus_m.htm

Highlighted
Veteran Advisor

Re: Create private sector jobs

I agree with that but I still don't understand why we export anything we have to import.  A bunch of fruit and veggies we export while we also import them but it isn't something that we have to do.  We raise lots of fruit and veggies here in this country and with very few exceptions we have just about everything we eat.  But we have to import oil because we don't produce enough and probably couldn't but we reduce the amount we import just by stopping the exporting of it.

Highlighted
Veteran Advisor

Re: Create private sector jobs

The keystone pipeline route goes through Nebraska.  There were meetings, one of which I heard the same question asked. 
The answer was more or less two-fold.


The US has refineries now, down South that refine oil.  They currently get a lot of oil from tanker ships, much of it from 'unfriendly' countries.  The pipeline would allow use of US refinery capacity that already exists, using oil from a 'friendly' country.

 

The second reason was that gasoline gets stolen

Diesel gets stolen

even heating oil & kerosene gets stolen.

 

Unrefined crude has a very, very low risk of theft, no matter how high gas prices get.