American Petroleum Institute (API) Senior Vice President for Policy, Economics, and Regulatory Affairs Frank Macchiarola said that if President Biden permanently bans oil and gas development on federal lands, it could kill up to a million jobs.
“The first few days should concern all Americans because the administration is clearly taking actions that are going to harm the economy and cost Americans jobs,” Macchiarola stressed to Breitbart on Jan. 24.
Biden outlined in the first days of his administration the course he is likely to follow during his term. Given the circumstances, he should take advantage of the great energy strengths gained by former President Trump.
“The president has a choice to make: He can maintain U.S. leadership and maintain and support our economic recovery with American energy, or he can pursue policies that destroy jobs and at the same time increase energy imports,” he further stated.
So far, Biden is taking a path that will prove dire for American jobs.
As was previously reported, Biden’s ban on the Keystone XL pipeline will destroy 11,000 direct jobs and up to 60,000 indirect jobs, in addition to all the damage it will cause in Canada.
If he follows the same tactic and bans federal resources for energy sector development, especially oil and gas development, the consequences will be enormous.
“The full-scale ban of development on federal lands you can bet the impact could be up to a million jobs in the United States,” Macchiarola estimated, adding that as much as $2 billion in wages would also be lost.
In a broader context, Biden could jeopardize U.S. energy independence, which former President Trump regained in just four years, something not seen since 1958.
“For the first time in 2019, in 67 years [the U.S.] became a net exporter of energy rather than a net importer,” he noted. “That’s a huge deal. And abandoning federal leasing heads in a different direction,” he reiterated.
This success in the energy sector strengthened the country’s entire economy and benefited everyone, not just entrepreneurs as progressives try to make it seem.
“Innovation-driven growth in production and exports has made the U.S. economy more resilient to world price spikes,” the White House Council of Economic Advisors (CEA) reported in 2020.
The Democrats’ long-awaited bill on raising the hourly wage value to $15 shows an even darker outlook for U.S. workers.
“REPORT: Joe Biden’s Proposal to Raise National Minimum Wage to $15 Could ‘Kill 3.7 Million Jobs,’” tweeted author and host Sean Hannity on his Twitter account.
REPORT: Joe Biden’s Proposal to Raise National Minimum Wage to $15 Could ‘Kill 3.7 Million Jobs’ https://t.co/ke4sfIEc8t
— Sean Hannity (@seanhannity) January 20, 2021