Nearly 16 million Americans officially unemployed. “Real,” unofficial unemployment reportedly past 25 million. And another 11,000 Americans lost their jobs last month. You know what we need? We need a summit. That was the message offered by President Obama yesterday, joined at the White House by lots of folks who loved to be there (“Can I get a box of presidential M&M’s?!) – but not many who are actually on the frontlines of job creation in America today.
You know who is creating jobs, though? Creating jobs despite an aging workforce, winnowing access to resources, and the specter of confiscatory tax rates from the federal government? America’s energy producers. And even though that industry is responsible for more than nine million direct and indirect jobs in this country – and seven and a half percent of its GDP! – you’d have been hard pressed to find a single voice representing those interests at the White House yesterday. Wasn’t a single one of them there.
Guess it’d be sort of like convening a summit on annoying people and forgetting to invite folks like Joan Rivers and Carrot Top, are we right? Consider: One recent study found that 1.2 million jobs could be created if the Administration simply moved forward with a commonsense plan to unlock our nation’s offshore energy reserves.
Another study from the University of Alaska Anchorage study examined how many Alaskan jobs could be created if Washington would finally give us a green light to produce our energy resources safely offshore. Hope you’re sitting down while you’re reading this.
So, how are jobs are we talking? Economists say 35,000 — that’s more than 3 times as many jobs that were lost nationwide last month.
And in terms of payroll; ball park figure? Can you say $72 billion?
But what’s an enormous figure like that mean to every day Alaskans and Americans looking for work? These energy production jobs pay almost $110,000 each year — more than twice the national average income of $43,500.
These economists also determined that “OCS-related employment growth could more than offset losses from the decline of petroleum production on state lands and could help sustain the economy for several decades.”
Here are few key excerpts from the study entitled “Economic Analysis of Future O!shore Oil and Gas Development: Beaufort Sea, Chukchi Sea, and North Aleutian Basin”:
Besides the direct jobs in the oil and gas sector, jobs would be created in other sectors of the economy; these jobs are referred to as indirect and induced jobs. These jobs are generated as a result of the multiplier effects of in-state spending—industry purchases from other Alaska businesses, government spending of OCS-related revenues, and household spending of wages and salaries.
It is estimated that total annual average employment from OCS development—including all the direct, indirect, and induced employment—could be about 35,000 per year on average through 2057, with a peak employment of over 50,000 in 2038. Total wages and salaries associated with OCS development over the 50-year period are estimated to be about $72 billion (2007$).



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