• Preserving and Creating American Manufacturing Jobs

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    The entire oil and natural gas sector could generate nearly 1.4 million new jobs if federal energy policies were changed to allow greater exploration and production of oil and gas and to remove counterproductive overregulation on fuel and petrochemical manufacturers, according to a 2011 study by Wood Mackenzie.

    A wealth of untapped energy resources under our feet and off our shores could provides America with abundant amounts of oil and natural gas that could supply fuel and petrochemical manufacturers for generations — if only government lifted regulatory barriers that keep these valuable resources out of reach.

    Proposals to raise energy taxes and burden the oil and gas sector with more overregulation would bring little or no environment benefit and would threaten American jobs, by making American fuel and petrochemical manufacturers less competitive again foreign companies.

    A 2011 Department of Energy report concluded that the compounded burden of federal regulations was a significant factor in the closure of 66 petroleum refineries {link to be inserted to refinery closures chart}in the United States in the past 20 years. Just since 2008, the recession and refinery closures have led to 3,000 lost jobs at American refineries. A handful of refineries are threatened with closure if they cannot be sold.

    President Obama decided in late 2011 to delay a decision on whether to approve a construction permit for the Keystone XL pipeline bringing oil from Canada to refineries on the U.S. Gulf Coast. The shovel-ready project has the potential to support close to 20,000 jobs immediately and 85,000 U.S. jobs cumulatively by 2020, and to inject billions of dollars into the U.S. economy.