Economic Impact of the ESLC's National Strategy for Energy Security
A detailed, independent economic analysis based on extensive modeling shows that the U.S. economy would benefit substantially over the long term from implementation of the ESLC’s National Strategy.
Shortly after developing the National Strategy, the ESLC commissioned the Interindustry Forecasting Project at the University of Maryland and Keybridge Research to model the economic impacts of those policy proposals. The goal was to produce a detailed, sober analysis based on conservative, realistic assumptions stretching out over the next four decades.
In short, the study finds that, if implemented today, the ESLC policy package would result in a wide range of beneficial impacts to the U.S. economy between now and 2050. Household income and American employment would be higher, the U.S. trade deficit would be smaller, and the government budget balance will improve. Most importantly-thanks to substantially reduced oil dependence-the American economy would be much better prepared to withstand future oil shocks. In essence, the ESLC energy package can be thought of as a self-financing insurance policy that will make the economy more robust in good times and more resilient when subjected to energy shocks.