The Hill News

Recent studies have estimated that the Obama administration’s latest offshore drilling moratorium could destroy more than 100,000 jobs along the Gulf Coast while costing billions of dollars in lost wages.  In just six months, it could end up doing more damage to our economy than the oil spill itself.

And the damage is not limited just to oil rigs; it would also hurt the thousands of workers employed in industries that support drilling and exploration, and the millions of dollars in lost revenues from taxes and lease sales directed to coastal restoration would eventually affect every Gulf Coast resident.

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