Presidential election spells trouble for energy industry and US economy
American Petroleum Institute President Jack Gerard called Tuesday on the winner of November’s presidential election not to increase regulation on a struggling domestic oil and gas industry.Hillary Clinton and Bernie Sanders are both tied to the fracking phobic left. Neither seems to comprehend how harmful their policies would be not only for energy jobs but also for the economy as a whole. They would export energy jobs to countries that do not have the US interests at heart. They would embolden US enemies and make US allies dependent on hostile suppliers. They have this unrealistic belief in alternative energy which is not capable of producing the materials needed to make transportation vehicles, nor provide them with dependable fuel.
“At stake is nothing less than sustained American global energy leadership and with it millions of well-paying jobs, American economic prosperity and national security,” he said. “If you can’t assist, please don’t hinder our industry’s ability to produce, refine and store the energy our nation and the world needs.”
Gerard’s comments during the Offshore Technology Conference follow a statement on the campaign trail by likely Democratic nominee Hillary Rodham Clinton that she would ban hydraulic fracturing on federal oil and gas leases.
Meanwhile, the “Keep it in the ground” environmental movement, which seeks to shift the country away from fossil fuels, is gaining increasing traction with Democrats in Congress. And wealthy donors like Jay Faison, the North Carolina businessman, are pushing Republican candidates to embrace clean energy sources.