Gage Skidmore from Surprise, AZ, United States of America via Wikimedia Commons

President Biden is set to sign new executive orders today which will likely end up utterly devastating the US Oil and Gas Industry.

The new executive order will freeze any and all new oil and gas leases on non-tribal public lands, effectively cutting off new sources of energy, making America more dependent on foreign oil producers, and likely destroying untold thousands of future energy industry jobs.

The move is reportedly part of Biden’s plan to move the US away from domestically produced oil and gas and toward policies more reflective of the so-called ‘Green New Deal.’ A policy which he had frequently issued vague or misleading statements about during his campaign:

As Axios reports, major energy industry groups are speaking out against the move:

What they’re saying: Oil industry groups have been aggressively pushing back against the leasing plan, arguing it will ultimately cost jobs and imperil energy security.

“Restricting development on federal lands and waters is nothing more than an ‘import more oil’ policy,”API president Mike Sommers said in a statement.

As Fox Buisness notes Biden’s move will have a devastating impact on the US economy:

A fracking ban on federal lands would deliver a devastating blow to the U.S. economy, according to the American Petroleum Institute.

The organization projects a $700 billion hit to U.S. gross domestic product should the ban be extended through 2030. Such action would also erase $9 billion of revenue, some of which is used to fund education and conservation programs.

API projects 1 million job losses would occur by 2022 with the states of Texas, Wyoming and New Mexico seeing the biggest impact. The U.S. oil and gas industry supports 10.3 million jobs, with workers making an average salary of $101,181, according to a 2015 study from PricewaterhouseCoopers and the American Petroleum Institute.

 

 


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Bug D
Bug D
10 months ago

Posted a comment here but was censored…..Is anything sacred anymore?

Disgusted Democrat
Disgusted Democrat
10 months ago
Reply to  Bug D

Welcome to Democrats America

Gmomtyler
Gmomtyler
10 months ago
Reply to  Bug D

The days of freely expressing your beliefs are gone, that’s what American voted for…apparently

Julie
Julie
10 months ago
Reply to  Gmomtyler

Voters elected President Trump!

Jim
Jim
9 months ago
Reply to  Bug D

I imagine they are really busy censoring these days.

henk
henk
10 months ago

not my fault, i didn’t vote for him…..

jimmy
jimmy
10 months ago
Reply to  henk

Neither did I. Those that did will get what they deserve. God help us

Displayguy
Displayguy
10 months ago
Reply to  henk

Very few people voted for the brain dead suit. Massive interference is what got him the count.

Jack
Jack
10 months ago
Reply to  henk

I don’t think anybody did 👹👹

Clemmie
Clemmie
10 months ago

The worst of worst is showing true colors, he will destroy country if allowed to continue.