Connect with us

News

Big Oil Predicts Economic Collapse under Biden’s Energy Plans

One of Joe Biden’s favorite talking points lately seems to be about the environment, big oil, and fracking. He’s repeatedly talked about banning fracking and destroying the oil industry. Similarly, he’s repeatedly lied about those very claims.

We’ve come to the conclusion that Joe Biden and his radical-left puppeteers have every intention of banning fracking, which would cripple large industries in Texas, Pennsylvania, and Oklahoma – among other states. And not only would a monumental and sudden change in energy production cripple industries across the country, but it would also serve to effectively create an economic collapse.

Jonathan Garber at Fox News reports:

“Six-dollar gas is coming if Trump isn’t re-elected,” Continental Resources founder Harold Hamm told FOX Business on Friday after the former vice president outlined his approach to energy policy at Thursday night’s debate in Nashville, Tenn.

“If Biden is elected and his plan on energy is adopted, he will send America into a deep depression and millions of jobs will be lost in Texas, Pennsylvania, Ohio, Michigan, Oklahoma, North Dakota and we will once again be beholden to foreign rogue regimes for our energy,” Hamm argued.

The U.S. oil and gas industry supports 10.3 million jobs, which pay an average salary of $101,181, according to a study released by PricewaterhouseCoopers and the American Petroleum Institute in 2015, the most recent report available. The industry contributed $1.3 trillion to the U.S. economy that year.

Joe Biden and his left-wing base are under the impression the the “Green New Deal” serves only to lower carbon emissions in the United States. However, even if the new plan was successfully implemented, it would cost tens of trillions of dollars and likely would not get us there for decades.

The Scientific American, which quickly moved to Biden’s defense, wrote, “Biden’s $2 trillion plan to aggressively increase the nation’s reliance on clean energy is supported by 66% of respondents and opposed by 26%, the poll found. Support for fracking was evenly split, with 44% for it and 42% against it. During the debate, Biden’s allies portrayed his climate policy as something that would add American jobs.”

The hundreds of thousands of workers who provide for their families by working in the energy industry understand that the government mandates proposed by Joe Biden are simply not realistic. Both economy and energy experts understand that the Green New Deal would suffocate the private industry and minimize growth and innovation in what is arguably, one of the most important industries in 2020.

Keep in mind that the radical energy plans, most of which are socialist in nature and backed by AOC and “the Squad” appear to be more about power and control rather than the American people and the environment. The People’s Charter, which was highly regarded and endorsed by far-left members of congress, specifically states that the federal government will simply “buy out” the oil and coal industries. Needless to say, government control of important industries like healthcare and energy is bad news not only for republicans, but for America at large.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2020 Massachusetts Daily