Distinguished Senior Fellow at IER Mary Hutzler testifies before the House Energy & Commerce committee and reveals new data from the study “Beyond the CBO: The Additional Economic Effects of Immediately Opening Federal Lands to Oil and Gas Leasing.
Here are some quick facts from the study that show the potential economic impact from increased energy development on federal land:
GDP increase:
• $127 billion annually for the next seven years.
• $450 billion annually in the next thirty years.
• $14.4 trillion cumulative increase in economic activity over the next thirty-seven years.
Jobs increase:
• 552,000 jobs annually over the next seven years.
• Almost 2 million jobs annually over the next thirty years.
To read the executive summary or the full report, click here (special link?).
Watch the full video below:
