Lifting a 40-year-old U.S. ban on crude exports would create a wide range of jobs in the oil drilling supply chain and broader economy even in states that produce little or no oil, according to a report released on Tuesday.
Some 394,000 to 859,000 U.S. jobs could be created annually from 2016 to 2030 by lifting the ban, according to the IHS report, titled: “Unleashing the Supply Chain: Assessing the Economic Impact of a U.S. crude oil free trade policy.”
Only 10 percent of the jobs would be created in actual oil production, while 30 percent would come from the supply chain, and 60 percent would come from the broader economy, the report said. The supply chain jobs would be created in industries that support drilling, such as oil field trucks, construction, information technology and rail.
Many of the jobs would be created in Florida, Washington, New York, Massachusetts, and other states that are not known as oil producers.
It makes sense and could be a job creator so, naturally, the idea has very little congressional support at the moment. In classic D.C. fashion, they are looking at the problem as if it were still the 1970’s and OPEC could make our lives miserable with very little effort. It’s a different world now and we are only be held back from not having to worry about anything by some hippie activists who are lying about fracking.
Perhaps the people who have been so discouraged that they simply stopped looking for work would like to weigh in on the subject.
Would Congress listen then?