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Public Statements

The De Facto Drilling Moratorium is Destroying Our Economy

Floor Speech

Location: Washington, DC

Mr. PALAZZO. Mr. Speaker, last week written across America's newspapers were headlines of how Egyptians stood up to what they viewed as a restrictive and arbitrary government.

Perhaps those protests should serve as a wake-up call for us all, if for no other reason than for where they took place. You see, just east of Cairo is the Suez Canal and SuMed pipeline, which combined carry nearly 5 million barrels of oil a day to countries around the world. Egypt's future remains uncertain, and because of the restrictive and arbitrary anti-drilling policies imposed by President Obama, so does the future for thousands of families in south Mississippi. By refusing to issue new drilling permits this administration continues to impose a de facto moratorium on U.S.-based companies, which is having a devastating effect on gulf coast families.

Having worked on an offshore platform, I know firsthand the impact those jobs have on a local economy. Without drilling in the gulf, many small businesses will suffer as more jobs are lost and the effect of those lost wages trickle throughout the economy.

Mr. Speaker, you don't ground the entire airline industry when there's an airplane crash. Now is the time for this administration to do what's right for the American people by allowing further offshore exploration and reducing our reliance on foreign sources of oil.

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