Sound, Reliable Energy
A steady, reliable supply of oil from Canadian oil sands would help protect Indiana jobs.
Canadian oil sands can meet the nation's oil needs with greater reliability and with less risk of supply disruptions to consumers and businesses. This is good news for Hoosier consumers and businesses that depend on energy delivery without disruption. With this steady, abundant source of energy from a friendly source, America can increase its energy security and look towards a bright economic future.
A recent study by Ball State University (BSU), “The Effect of Higher Fuel Prices on Indiana’s Economy”, illustrates how economically vital it is to have a dependable supply of oil to Indiana. Researchers at the Center for Business and Economic Research at BSU determined an increase in fuel prices, as expected this summer, could cost Indiana jobs and hinder economic growth. The chart below shows how closely intertwined gas prices are with the state’s jobs picture.
Source: Ball State University
When the energy supply is disrupted or there is a spike in energy costs - both of which have happened in recent years - industries which rely on oil for operations are adversely affected. During tough economic times, the state could see a higher rate of loan extensions, an increased number of operating loans and more requests for state-assistance programs to alleviate the fiscal burdens.
Therefore it is critical for businesses and consumers have a stable, reliable source of energy - in particular oil - to run their operations and remain economically viable, creating stronger revenue streams and more jobs for Hoosiers.
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