Given the challenges still facing the U.S. economy, the government needs to move aside and let private industry do what private industry does best: create jobs and increase our oil supply to help lower the price at the pump. And yet the Obama Administration remains committed to strangling America’s economic revival by doing everything in its power to prevent companies that obtain offshore leases from actually drilling and producing oil—a fact evidenced by a new lawsuit just filed in the U.S. Court of Federal Claims by an independent U.S. oil and gas company. Congress should act now to open access and reduce the onerous regulatory risk that characterizes U.S. offshore drilling policy. Such reform would provide companies the certainty they need to expand job creation and increase America’s energy supply.
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