Client News
Sun-Sentinel: Domestic energy resources
Tuesday, November 15, 2011
There has been quite a bit of news coverage lately regarding proposed federal and state legislation that could bring jobs and revenue to Florida. Given our state’s high unemployment numbers and continuing budget shortfalls, we should take a closer look at job growth and revenue-creating opportunities that already exist in our own backyard through increased exploration of domestic oil and natural gas resources.
According to a recent Wood McKenzie study, if the United States implemented policies allowing for the expansion of domestic exploration and production of energy resources, it would generate more than a million jobs and $800 billion in government revenue. Florida alone stands to gain more than 112,000 new jobs within four years and an additional $4.8 million in state revenue by 2020.
Conversely, if the United States continues to follow the same path on energy policies, Florida will not see a single new job created in this industry or an additional dime go into state coffers.
By removing the existing roadblocks to the development of domestic energy resources, we not only move toward energy independence, we also have a meaningful impact on our state and national economies.
Nicolás J. Gutiérrez Jr., chairman of the FLA Energy Forum, Miami