The Biden depression

 Fox Business:

The oil and gas industry is mounting a vigorous counter-attack against Democratic presidential candidate Joe Biden's plan to lead a transition away from fossil fuels if he defeats President Trump.

“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.

BIDEN-BACKED FRACKING POLICY COULD DERAIL AMERICA’S ECONOMIC RECOVERY

While Biden dismissed Trump's claims during the debate that he would ban fracking, a process used to extract fossil fuels from shale formations, he said transitioning away from the oil industry is necessary because it "pollutes significantly" and must be "replaced by renewable energy over time.”

The former vice president clarified his comments later in the evening before departing Nashville International Airport.

“We're not getting rid of fossil fuels,” Biden said. “We're getting rid of the subsidies for fossil fuels, but we're not getting rid of fossil fuels for a long time.”
...

Biden’s campaign website says Rep. Alexandria Ocasio-Cortez’s Green New Deal, widely panned by Republicans and targeted by Trump on Thursday, is a “critical framework for meeting the climate challenges we face.”

The Green New Deal calls for greenhouse gas emissions from human sources to be reduced by 40% to 60% of 2010 levels by 2030 and for achieving net-zero emissions by 2050.

"America is the cleanest industrialized nation on the planet, decreasing EPA-regulated pollutants by 73% over the last forty years while economic growth increased 262% and the population grew 60%," said Wayne Christian, head of the Texas Railroad Commission, the state's regulator of the oil and gas industry. "Biden's goal of zero emissions is impossible and will hurt American families by destroying our economy and making our nation less safe."
... 
There is more.

The Biden policy would be a disaster for America not only economically, but also do great harm to US national security.  It is one of the dumbest ideas in history.


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