Posted on 02/27/2020 9:43:28 AM PST by Oldeconomybuyer
WASHINGTON - Banning hydraulic fracturing and halting new drilling on federal land would cost the U.S. economy $7 trillion in the next decade and kill millions of jobs, the U.S. oil industry’s main lobby group said on Thursday in a report targeting the climate plans of top Democratic presidential candidates.
The report from the American Petroleum Institute underscores mounting concern in the U.S. drilling industry over the possibility a candidate in favor of rapidly ending the fossil fuel economy to fight global warming will win the Democratic Party’s nomination to face Republican President Donald Trump in the November election.
U.S. Senator Bernie Sanders, a democratic socialist who is the current front-runner to win the nomination, and Senator Elizabeth Warren, who is also in the race, have vowed to ban hydraulic fracturing style-drilling nationwide, stop offering drilling leases on public land, and re-impose a moratorium on crude oil exports if elected. Other Democratic presidential candidates have offered more moderate plans here
“The U.S. energy revolution ... is dynamic and game-changing for the U.S. economy and energy security. Yet, banning fracking and halting federal natural gas and oil leasing has been proposed,” API said, without mentioning the presidential race.
The group said its modeling showed that proposals to ban fracking and end public drilling leases would lead to a $7.1 trillion reduction in cumulative gross domestic product by 2030, and cut millions of jobs in places like Texas, California, Florida, Pennsylvania and Ohio.
(Excerpt) Read more at reuters.com ...
They want to take it back to Carter and the oil starvation of the US.
I don’t understand why the Democrat Party hates their own country.
LOL Looks like a damn game show that picture.
Drill Baby, Drill!
Ask prairies Canada how those carbon taxes and drilling bans are working.
Simple, The Global Cabal cannot take down a strong country unless they take away the elements that allow it to defend itself and provide for the economy to flourish
Another tangent of the Global Warming BS
Fear mongering in short and for the simple minded a “happening” tat they can latch onto and be somebody
Till the lights go out and they are riding their bike to the position the Government has assigned them in below freezing temps
Decisions have consequences
Choose
But do so wisely
Because they’re communists , silly!
Because the Democrat party made a devils bargain with socialists by sheltering them back 50+ years ago. They have become inheritors of that poisoned philosphical tree.
Kern County (Bakersfield CA) drilling put on hold.
How in the world do the Dems get away with saying President Trump colludes with Russia when they are the ones doing Putin's bidding.
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