Jan 04, 2018

Interior Department Takes Positive Steps to Advance Offshore Natural Resource Development, Economic Growth & Greater Prosperity

Post by Freedom Partners

Arlington, VA — The Trump administration today, led by U.S. Secretary of the Interior Ryan Zinke, announced the next steps for developing the National Outer Continental Shelf Oil and Gas Leasing Program (National OCS Program). Currently, 94 percent of OCS is off limits to natural resources development.

The move follows through with the president’s promise to remove the many barriers to domestic energy production stifling economic growth and job creation.

Freedom Partners Executive Vice President Nathan Nascimento issued the following statement:

“Today’s announcement represents a continuation of a bold, year long effort by President Trump, Secretary Zinke and the administration to provide relief from the Obama administration’s punishing regulatory agenda and make America competitive again. Opening these areas to development doesn’t just mean more affordable domestic energy, it means more jobs, more opportunity and a more vibrant economy for all Americans.”

Under President Obama, over 600 major regulations were added to the Federal Register at costs exceeding $700 billion.

The New York Times: “The Trump Effect: Business, Anticipating Less Regulation, Loosens Purse Strings.” “A wave of optimism has swept over American business leaders, and it is beginning to translate into the sort of investment in new plants, equipment and factory upgrades that bolsters economic growth, spurs job creation — and may finally raise wages significantly.” (Binyamin Appelbaum & Jim Tankersley, “The Trump Effect: Business, Anticipating Less Regulation, Loosens Purse Strings,” The New York Times, 1/1/2018)

  • The Obama Regulatory State “Dampened Investment And Job Creation.” “[I]n the administration and across the business community, there is a perception that years of increased environmental, financial and other regulatory oversight by the Obama administration dampened investment and job creation — and that Mr. Trump’s more hands-off approach has unleashed the ‘animal spirits’ of companies that had hoarded cash after the recession of 2008.” (Binyamin Appelbaum & Jim Tankersley, “The Trump Effect: Business, Anticipating Less Regulation, Loosens Purse Strings,” The New York Times, 1/1/2018)

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