Study shows consequences of continuing to restrict domestic energy exploration

Published Monday, February 22, 2010

America’s reliance on foreign energy will grow by 19% over the next 20 years, expanding the transfer of US wealth to the Organization of Petroleum Exporting Countries (OPEC) by more than $600 billion, according to a report by the National Association of Regulatory Utility Commissioners (NARUC). The two-year study broadly examined the social, economic, and environmental impacts of continued restrictions on developing America’s oil and gas resources. “The study highlights the importance of developing our domestic petroleum resources in an environmentally responsible manner,” said Rich Moskowitz, American Trucking Associations (ATA) vice-president. “Continuing restrictions on the development of US ...

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