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The Official Blog of National Taxpayers Union

The Drilling Stimulus

Posted by Andrew Moylan - December 09, 2008

A new study released by ICF International estimated the economic impact of opening up federal lands (both on- and off-shore) to energy development at $4 TRILLION over the life of the resources. A trillion here, a trillion there (in today's world of trillion dollar bailouts), and pretty soon you're talking real money. It also estimated that an additional 160,000 jobs would be created in the process. Read a good editorial on the study in today's DC Examiner.

This study builds on the idea that I wrote about in an August piece in the Wall Street Journal, entitled "Let's Drill Our Way to Lower Taxes." My focus in that piece was using the benefits of energy exploration as a means of lowering tax burdens. I proposed dealing with the intractable Alternative Minimum Tax, but there are other taxes that could be cut in order to stimulate the economy.

Check out the study, and write your Congressman in support of more domestic energy exploration!

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