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. Â
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.Â
To read the executive summary or the full report, click here (special link?).Â
Watch the full video below:
