Breitling Oil and Gas Morning Podcast #73 May 22th, 2012

Twenty-two proposed Utah and Wyoming oil and gas projects where 44,289 wells would be drilled potentially could annually support 120,905 jobs paying $8 billion in wages, generate $27.5 billion of economic activity, and produce $139 million of government revenue.   The projects’ total economic impact over their anticipated 10-15 year lifespan is an estimated $383.5 billion, it said.

Most of the wells, 30,789, are proposed in National Environmental Policy Act documents that have been under review for more than 2 years.  Outstanding projects delayed for more than 3 years in the 2 states represent 22,835 proposed wells, or about 1,631 wells/year, the study said. “Federal government delays to these projects are preventing the creation of 64,805 jobs, $4.3 billion in wages, and $14.9 billion in economic impact every year,” it said.

I firmly believe  government delays during the environmental analysis phase are preventing significant job creation and economic activity.

Comments are closed.