EIN News says, "Big Oil: To Create Jobs, Let Us Drill More Widely With job creation taking center stage in American politics, the oil industry made a pitch for drilling more widely. With looser restrictions, the industry says it could deliver 1.4 million new jobs, boost tax rolls by $800 billion, and increase domestic energy production almost 50%. (cnn.com)".
Does this make sense to you? It's kind of obvious to me. I have been saying for some time that the federal government has been inhibiting job creation by limiting drilling operations.
I'm not sure how the oil industry calculates comes up with 1.4 million new jobs, but I can tell you that with increased drilling operations, more oil will be available and gasoline prices will fall. This will then spur the economy by people not worrying as much about fuel costs and getting on with the major aspects of getting work done.
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