If it were not for the $300 billion boost to the U.S. economy and the more than two million jobs added each year from the oil and gas industry, we could have been in a second Great Depression. To add to this economic boom, the 114th Congress can quickly pass new legislation, such as the KEEP Energy Act according to Mark P. Mills in today’s Forbes.
KEEP is an acronym for Keystone, EPA, Exports and Production.
- Keystone XL pipeline approval would be a very important symbolic victory for the United States and its allies. The pipeline would also add thousands of more jobs.
- The Environmental Protection Agency needs to be reined in. The EPA’ rules and regulations threaten the economy and is gearing up for new rules for the fracking boom.
- The oil and gas export ban over the past several decades, has not made sense for one of our most basic values of free global access to trade. There is even more reason to end this obsolete ban with our allies in Europe and elsewhere in great need for these energy supplies.
- Energy production could increase much more if the federal government opened more lands to drilling and if there was more investments made in technologies such as horizontal drilling and hydraulic fracturing.