Moratorium Job Loss Underestimated By 60%

Louisiana State University professor Dr. Joseph Mason released a report this week, taking a closer look at the figures issued last week by the Obama administration on the economic impact of its ongoing drilling moratorium.   Using the government’s own economic modeling, Dr. Mason finds the White House underestimated total jobs lost by 60 percent.  In fact, based on the administrations’s recently released figures, Dr. Mason estimates that the Gulf region will lose more than 19,500 jobs, $5 billion in economic activity, and nearly $240 million in state and local tax revenues during the six month moratorium.

Using the administration’s calculations, Dr. Mason concludes that that the region stands to lose:

  • 19,536 jobs;
  • $5 billion in economic output;
  • $1.1 billion in earnings; and
  • $239 million in state and local tax revenues during the 6-month moratorium.

 

More on Dr. Mason’s report

Read Dr. Mason’s Critique of Administration’s Report.

View the press release.

Politico’s Moring Energy features the teleconference.

Tom Pyle posts White House Jobs Numbers an Economic Modeling Blunder