The report by the Washington-based National Ocean Industries Association comes as Biden and other Democrats hoping to unseat Republican President Donald Trump in November’s election have vowed to shift the country away from planet-warming fossil fuels to help avert the worst impacts of climate change.
Biden has said that moving away from fossil fuels would pave the way for big job gains in renewable energy. If no new permits are issued, the offshore industry would have 179,000 jobs in 2040, less than half the 370,000 jobs it would be projected to support under current policies, the report said. Government revenues from the industry, meanwhile, would be $2.7 billion a year instead of $7 billion, it said.
Thoughts and prayers
In case you haven't noticed there's a glut of oil on the market at the moment. Why invest in offshore exploration when there's such a low price for the product? How will that increase government revenues?
Would not.
It's not like the Deepwater Horizon blowout is a distant memory. The effects of that error in judgement will be long term.
Baloney
exploitation pétrolière offshore: Au pdt Rajoelina de Madagascar: la spéculation sur de possibles poches de pétrole autour de NOS ÎLES que la france appelle éparses, n'est pas du tout et pour longtemps, une urgence économique. Renforçons-nous d'abord! NOUS LES REPRENDRONS!👊