Study: Obama’s Oil Moratorium Has Cost 19,000 Jobs And $1.1 Billion In Wages

And that’s just the direct costs. Keep in mind that our economy runs on energy, particularly oil. When the government inhibits energy production that puts upward pressure on energy costs.

(CNSNews.com) – At least 13,000 jobs have been lost since last summer’s moratorium on offshore oil production, surpassing projected job losses in a 2010 study by thousands, according to the Louisiana State University professor who authored the study.

Joseph Mason, author of “The Economic Cost of a Moratorium on Offshore Oil and Gas Exploration to the Gulf Region,” estimated that the new regional job losses due to the moratorium on offshore oil production in the Gulf region is now 13,000 – up from his original estimate of 8,000.

Mason also estimated the national job losses to have increased from 12,000 to 19,000; regional wage losses to be $800 million, up from $500 million; national wage losses to be $1.1 billion, up from $700 million; lost tax revenues on the state and local level to be $155 million, up from $100 million; and lost tax revenues on the national level to be $350 million, up from $200 million.

Here’s video of Mason testifying about his report before House Energy committee:

Again, our prosperity in this modern economy is tied to energy. The more free energy producers are to produce energy, the greater our capacity for prosperity.

Rob Port is the editor of SayAnythingBlog.com. In 2011 he was a finalist for the Watch Dog of the Year from the Sam Adams Alliance and winner of the Americans For Prosperity Award for Online Excellence. In 2013 the Washington Post named SAB one of the nation's top state-based political blogs, and named Rob one of the state's best political reporters. He writes a weekly column for several North Dakota newspapers, and also serves as a policy fellow for the North Dakota Policy Council.

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  • Camsaure

    Hopefully the moratorium will help eliminate a few more jobs…such as POTUS,VPOTUS,EPA and a host of other lib/progressives in congress.

  • SigFan

    How can any honest person look at what the regime is doing and say with a straight face that they are interested in getting the economy back on track? No one is this ignorant and incompetent. This is a willful and deliberate attempt to crash America to it’s knees and remake it in the socialist vision that the left has held for the last hundred years. The real question is how long the majority of the public that describe themselves as conservative or libertarian is going to stand-by and watch it happen.

    • mikemc1970

      The honestly naive people can do that. That’s why Liberals try so hard to recruit the young. You either have to be a hardcore (dismiss all inconvenient facts) believer, a useful idiot, or truly naive to be a Liberal.

      • SigFan

        Exactly why the left has always been so prevalent on college campuses. Get them while their brains are still mush and they haven’t had any experience with making their own way in life.

        • $8194357

          Lenin again!

  • Lianne

    Was the report that I read true and accurate? Obama was reported to support off shore drilling in Brazil so that one day we can IMPORT it???? Soros still pushing him around?

    • http://pulse.yahoo.com/_LXTBI7Z675QG63Y7USONOYUVIU Shrill Lib Idiot

      Well, maybe not exactly pushing. More like pulling on his strings.

  • http://pulse.yahoo.com/_4RKUEHF3NG2Z32RT4B5A3Y7HUE Kenny

    Obama: Who cares? Those jobs are evil anyways!

  • http://pulse.yahoo.com/_LXTBI7Z675QG63Y7USONOYUVIU Shrill Lib Idiot

    Even here in Oregon, which is an extremely liberal state, you rarely find anyone who will admit they voted for Obama. The Obama bumper stickers are all gone. Remember the simple question Reagan asked when he beat Carter? Are you better off than you were four years ago? That will be the question in 2012.

  • thormat

    Title should have said 1.1billion in TAXABLE wages.

  • DopeyDem

    I’m waiting for them to start blaming George Bush and all his pals in Big Oil for creating these higher prices just to make BHO look bad. They’ve already announced the HBO special on Dick Cheney. I’ll bet that’s going to be really unbiased.

  • Joker055

    LEts stop relying on foreign oil, get the hell out of the muddle east and them sort out their own problems, and start drilling our own oil. Oil and energy are not commodities to be traded, stop the train stop the price gauging.

  • Joker055

    Stupid Auto correct, stop trading not train & middle not muddle

    • Waiting

      muddle was funny, and apropos, I thought

  • http://sayanythingblog.com Mountainmouth

    This is all part of the Obamanomics agenda that he promised. Barry is clearly the most unqualified man in any room he enters

  • Bat One

    Let’s see here… $1.1 billion at an average 25% tax rate (we’ll overlook FICA, Medicare, etc. for now) works out to roughly $275 billion, which is nearly 18% of the current fiscal year’s federal budget deficit. Obviously, anyone who argues that Obama and the Left are serious about deficits and fiscal responsibility is a f*cking liar.

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