Today the Obama administration brags about its “all of the above” energy policy, but two years ago it temporarily banned oil drilling in the Gulf of Mexico after the BP oil spill, a move that cut oil output and cost thousands of jobs.
At the time, the Interior Department report called its recommendations “peer-reviewed by seven experts identified by the National Academy of Engineering.” But that was not true. None of the seven advised a drilling ban then.
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Interior’s estimate was that well closures temporarily cost 8,000-12,000 jobs and $1.2 billion in economic activity. Mason put job losses at 13,000-19,000, lost wages at $800 million and lost tax revenue at $200 million.
When Interior said the engineers backed the ban, the engineers were shocked. The idea of a moratorium never came up in their sessions and was not recommended, five of the seven told IBD. There was no need to stop other wells, they said.
To a Marxist, any lie is truth if it advances the cause of radical socialism.
And if I wanted to destroy the USA……
In 2007, the MMS collected $9.4 billion in royalty revenue. Now they are on track to collect less than $40 million.
They took careful aim, and shot themselves in their collective foot.