For Hispanic families and entrepreneurs who make up a growing share of Florida’s workforce and small business community, rising oil prices are a direct threat to economic stability and opportunity.
The stakes are especially high for Florida’s Hispanic community. Hispanic-owned businesses are some of the fastest-growing in the state, especially in industries like tourism, transportation, and construction, where costs matter most. Affordable and reliable energy is key to creating jobs and supporting long-term growth.
Energy costs affect everyone in Florida, but Hispanic households often spend a bigger part of their income on things like gasoline and diesel, so they feel the impact more. Small Hispanic-owned businesses with tight budgets may have to cut hours, raise prices, delay growth, or even close.
Having a strong supply of energy from within the country is essential. America’s energy security starts with using our own resources, especially those from the Gulf of America, which still powers much of our economy.
Recent events around the world show that oil and gas markets are still unpredictable. Conflicts in other countries can disrupt supply, leading to uncertain prices and higher costs for fuel and goods.
The Department of the Interior’s current proposal for offshore oil and gas leasing shows that a strong nation needs a reliable energy base. As the administration looks at the next steps for offshore leasing, the South-Central Gulf should stay a top priority. Expanding access through a Five-Year Leasing Plan will support America’s leadership in energy, keep prices affordable, and help ensure long-term stability.
The South-Central Gulf of America remains a cornerstone of energy dominance. Expanded access and consistent offshore leasing are critical to keeping energy affordable and reliable. Offshore development supports nearly 412,000 American jobs, contributes close to $30 billion annually to the U.S. economy and generates more than $11 billion in government revenue.
Economic certainty is just as important. When leasing schedules are predictable, producers feel confident to invest, plan, and hire. Delays or limits on lease sales mean less oil supply and more market uncertainty, which ends up hurting consumers. These extra costs show up as higher prices at the pump and can be especially hard on small businesses.
Energy independence helps protect us from unpredictable events around the world. When we produce energy at home, we rely less on foreign suppliers and shield families from sudden price jumps caused by events in other countries. Any pause or cutback in offshore leasing leads to real problems: higher prices, more dependence on foreign suppliers, and fewer jobs for American workers.
The path forward is clear. A robust Five-Year Leasing Plan with access in the South-Central Gulf and committing to consistent offshore leasing is a common-sense solution that keeps energy accessible and affordable, strengthens the economy and reinforces America’s position as a global energy leader.
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Julio Fuentes serves as Chair of the National Hispanic Energy Council and is president and CEO of the Florida State Hispanic Chamber of Commerce.
