May 12, 2021
Dear Mr. President,
From Main Street to the assembly line, our undersigned organizations represent a broad constituency of 700+ businesses. Like you, we care deeply about the environment and our economy. We believe that the business community has a strong role to play to partner with government to reduce emissions and combat climate change.
We are writing in strong opposition, however, to your decision to ban new energy production on federal lands and waters. This action will not help you meet your climate goals—in fact it will be counterproductive by artificially limiting supply, forcing our nation to use more oil and gas produced overseas in nations that have less stringent environmental restrictions.
In addition, the ban on new energy production on federal lands and waters could have devastating impacts in communities across America. According to a recent analysis*, implementing a federal leasing ban would result in:
• A loss of more than 154,000 jobs in 2025, with job losses totaling almost 538,000 in 2040;
• A loss of more than $22.7 billion in U.S. GDP in 2025, with potential lost economic impacts reaching $76.4 billion in 2040;
• A loss of nearly $4 billion in tax revenue in 2025, increasing to more than $14.8 billion in lost revenue in 2040.
It is important to note that while the ban will disproportionately hurt certain communities where federal lands and waters production occurs, its effects will ripple throughout the economy and across the nation. The supply chain for this production does not exist in just a few places, but around the entire country.
We strongly encourage you to reconsider your ban on new energy production on federal lands and waters.
President & CEO
*An economic impact analysis of recent onshore and offshore development on federal lands was conducted on behalf of the U.S. Chamber of Commerce’s Global Energy Institute with underlying studies prepared for the State of Wyoming and National Ocean Industries Association on the topic.