The U.S. Senate is Holding 1 Million Jobs Hostage

According to the House Natural Resources Committee, the U.S. Senate is sitting on proposals that could create over one million jobs in the U.S.

Jan 12, 2014 at 4:03PM

Senate

Photo credit: Flickr/Phil Roeder

Still looking for a job? Blame the U.S. Senate. At least that's what the House Natural Resource Committee is saying. The committee has produced a half dozen bills that have all been passed by the U.S. House but are still awaiting Senate approval. Let's take a brief look at the six bills that the Committee believes would create more than a million jobs.

Restoring Healthy Forests for Healthy Communities Act
H.R. 1526 would renew the government's commitment to manage federal forests for the benefits of rural schools and counties. According to the committee, this legislation would create over 200,000 direct and indirect jobs as it would provide stable funding for counties to use for both education and infrastructure. This bill would actually save taxpayers $400 million over ten years while also improving local management of our forests and reduce the risk of forest fires.

Offshore Energy and Jobs Act
H.R. 2231 would open up new areas to offshore energy production. According to the Congressional Budget Office, it would generate $1.5 billion in new revenue over ten years as well as create 1.2 million long-term jobs.

One area that could hold a lot of oil is off of the Atlantic coast. Some estimates suggest that up to 10 billion barrels of oil could be produced from the Atlantic Outer Continental Shelf. Canada is already producing oil off of its Atlantic coast with oil giants like ExxonMobil (NYSE:XOM) and Chevron (NYSE:CVX) investing over $14 billion to develop the Hebron oil field. That's creating jobs and economic gains for Canadians. Developing our offshore resources could do the same for many Americans.

Federal Lands Jobs and Energy Security Act of 2013
H.R. 1965 is a package of bills that are designed to protect and expand onshore American energy production and create more American jobs. These bills will streamline government red-tape and regulations. These bills include the Federal Lands Job and Energy Security Act, Planning for American Energy Act, National Petroleum Reserve Alaska Access Act, BLM Live Internet Auctions Act and the Native American Energy Act.

These bills are designed to unlock the full potential of America's energy resources. By reforming the federal leasing process and opening up more areas to oil and gas exploration we would create jobs while also securing our energy future. 

Protecting States' Rights to Promote American Energy Security Act
H.R. 2728 would protect American jobs and American energy production by limiting the government's ability to impose duplicative regulations on hydraulic fracturing on federal lands. While fracking is a contentious issue, it has fueled remarkable jobs growth over the past few years. In fact, according to the IHS, shale oil and gas activity contributed to more than 1.7 million jobs in 2012. It expects that boom will fuel a 45% increase in jobs to 2.5 million by 2015.

National Strategic and Critical Mineral Production Act
H.R. 761 would allow the U.S. to more efficiently develop its strategic and critical minerals such as rare earth elements. These elements are critically important to the U.S. military as well as for technology and clean energy. This bill would enable more companies like Molycorp (NYSE:MCP) to increase production capacity for rare earth elements.

Mining is also an important jobs creator. For every job created by metals mining, it is estimated than an additional 2.3 jobs are created. Meanwhile, for every nonmetals mining job created, an additional 1.6 jobs are created.

Bureau of Reclamation Conduit Hydropower Development Equity and Jobs Act
H.R. 1963 would remove outdated federal statutory barriers and would create jobs and generate thousands of megawatts of clean hydropower. It wouldn't cost taxpayers a dime while at the same time creating revenue for local power providers and the federal government.

A call for action
If creating jobs is important to you, then now would be a good time to contact your U.S. Senators to get these bills passed. However, these bills are more than just about creating jobs. Each would spur economic growth while many would improve our national security.

U.S. energy security is one of OPEC's worst nightmares

Our abundant natural resources provide us with the opportunity to break away from OPEC's grip on our nation's energy supplies. That's opening the door for American's like you to take OPEC's profits and put them in your own pocket. In an exclusive, brand-new Motley Fool report we reveal the company doing just that. We're calling it OPEC's Worst Nightmare. Just click HERE to uncover the name of this industry-leading stock.

 

Fool contributor Matt DiLallo has no position in any stocks mentioned. The Motley Fool recommends Chevron. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

1 Key Step to Get Rich

Our mission at The Motley Fool is to help the world invest better. Whether that’s helping people overcome their fear of stocks all the way to offering clear and successful guidance on complicated-sounding options trades, we can help.

Feb 1, 2016 at 4:54PM

To be perfectly clear, this is not a get-rich action that my Foolish colleagues and I came up with. But we wouldn't argue with the approach.

A 2015 Business Insider article titled, "11 websites to bookmark if you want to get rich" rated The Motley Fool as the #1 place online to get smarter about investing.

"The Motley Fool aims to build a strong investment community, which it does by providing a variety of resources: the website, books, a newspaper column, a radio [show], and [newsletters]," wrote (the clearly insightful and talented) money reporter Kathleen Elkins. "This site has something for every type of investor, from basic lessons for beginners to investing commentary on mutual funds, stock sectors, and value for the more advanced."

Our mission at The Motley Fool is to help the world invest better, so it's nice to receive that kind of recognition. It lets us know we're doing our job.

Whether that's helping the entirely uninitiated overcome their fear of stocks all the way to offering clear and successful guidance on complicated-sounding options trades, we want to provide our readers with a boost to the next step on their journey to financial independence.

Articles and beyond

As Business Insider wrote, there are a number of resources available from the Fool for investors of all levels and styles.

In addition to the dozens of free articles we publish every day on our website, I want to highlight two must-see spots in your tour of fool.com.

For the beginning investor

Investing can seem like a Big Deal to those who have yet to buy their first stock. Many investment professionals try to infuse the conversation with jargon in order to deter individual investors from tackling it on their own (and to justify their often sky-high fees).

But the individual investor can beat the market. The real secret to investing is that it doesn't take tons of money, endless hours, or super-secret formulas that only experts possess.

That's why we created a best-selling guide that walks investors-to-be through everything they need to know to get started. And because we're so dedicated to our mission, we've made that available for free.

If you're just starting out (or want to help out someone who is), go to www.fool.com/beginners, drop in your email address, and you'll be able to instantly access the quick-read guide ... for free.

For the listener

Whether it's on the stationary exercise bike or during my daily commute, I spend a lot of time going nowhere. But I've found a way to make that time benefit me.

The Motley Fool offers five podcasts that I refer to as "binge-worthy financial information."

Motley Fool Money features a team of our analysts discussing the week's top business and investing stories, interviews, and an inside look at the stocks on our radar. It's also featured on several dozen radio stations across the country.

The hosts of Motley Fool Answers challenge the conventional wisdom on life's biggest financial issues to reveal what you really need to know to make smart money moves.

David Gardner, co-founder of The Motley Fool, is among the most respected and trusted sources on investing. And he's the host of Rule Breaker Investing, in which he shares his insights into today's most innovative and disruptive companies ... and how to profit from them.

Market Foolery is our daily look at stocks in the news, as well as the top business and investing stories.

And Industry Focus offers a deeper dive into a specific industry and the stories making headlines. Healthcare, technology, energy, consumer goods, and other industries take turns in the spotlight.

They're all informative, entertaining, and eminently listenable ... and I don't say that simply because the hosts all sit within a Nerf-gun shot of my desk. Rule Breaker Investing and Answers contain timeless advice, so you might want to go back to the beginning with those. The other three take their cues from the market, so you'll want to listen to the most recent first. All are available at www.fool.com/podcasts.

But wait, there's more

The book and the podcasts – both free ... both awesome – also come with an ongoing benefit. If you download the book, or if you enter your email address in the magical box at the podcasts page, you'll get ongoing market coverage sent straight to your inbox.

Investor Insights is valuable and enjoyable coverage of everything from macroeconomic events to investing strategies to our analyst's travels around the world to find the next big thing. Also free.

Get the book. Listen to a podcast. Sign up for Investor Insights. I'm not saying that any of those things will make you rich ... but Business Insider seems to think so.


Compare Brokers