Increased production of oil and natural gas could boost U.S. gross domestic product nearly 2 percent by 2035, the White House Council of Economic Advisers said in a report released Thursday.
To meet the needs of artificial intelligence and other energy-hungry enterprises, the report — “The Economic Benefits of Unleashing American Energy” — calls for accelerating the construction of gas pipelines, preventing coal plant retirements, quickly permitting all kinds of oil and gas projects and boosting liquefied natural gas exports.
The report says the “energy potential of public lands remains underutilized” while highlighting provisions in the One Big Beautiful Bill Act to expand lease sales, lower lease royalties, and nix wind and solar tax credits.
“Policies that promote the energy sector’s growth,” it says, could raise GDP by 1.9 percent over the next decade.
