Good-paying jobs can be created without federal loan guarantees or government grants. If the permitting process is reliable, these companies are ready and willing to invest in energy exploration.
And because lease-sale revenues and royalties from energy production are a significant source of revenue to the federal treasury, increasing Gulf Coast energy exploration is crucial to addressing our nationís fiscal crisis.
It wonít be easy to balance the federal budget and rein in the trillion-dollar deficits of the Obama administration, but a few simple changes can help. The president can start by allowing energy producers to buy the leases they want and by giving them the permits they need to develop the resources that fuel our economy.
Itís not complicated. As the president is fond of saying, ďItís just math.Ē
Sen. David Vitter (La.) is the No. 2 Republican on the Environment and Public Works Committee and ranking member of its Subcommittee on Transportation and Infrastructure.