Democrat candidates causing a fracking boom on public lands with their threat to stop it
Eyeing more restrictions on drilling following the 2020 presidential election, some U.S. oil and gas companies may accelerate fracking on public lands over the next year.Joe Biden has also threatened to halt fracking on public lands. This is one of the more nonsensical promises the Democrats have made. It is part of their war on the Texas economy, although there is very little federal land in Texas, companies from Texas are active on some federal land. It would put thousands out of work depress the economy as a whole and likely led to a housing recession too as people would likely lose their houses.
Concho Resources said that in order to mitigate risk from a potential ban on fracking in 2021, the company is running rigs on its federal acreage now.
The comment comes in light of the relatively strong rise of Massachusetts Senator Elizabeth Warren, who is arguably the front runner, or at least in the top tier. Vermont Senator Bernie Sanders has trailed a bit, although a new poll from New Hampshire has him in first place there. Former Vice President Joe Biden, who offers up a more industry-friendly approach to energy and climate change, has slid in the polls. He is still considered among the top tier, but his fundraising has been anemic, his performance halting and unconvincing, and his momentum heading in the wrong direction.
Senators Bernie Sanders and Elizabeth Warren have both promised to ban hydraulic fracturing. As president, neither would be able to outright ban the practice entirely, as it would require an act of Congress. But their ability to disrupt the use of fracking on federal lands would be much greater.
“‘If Sen. Warren were to win…’ was getting a lot of airtime in our meetings,” Jake Roberts, an exploration-and-production analyst at Houston’s Tudor, Pickering, Holt & Co., told the Wall Street Journal recently. “We were surprised to see people taking it so seriously.”