Biden Anti-Fracking Statement Threatens U.S. Economy and National Security

Recent global events, including the coronavirus pandemic and recent oil war between Saudi Arabia and Russia, have served as timely reminders as to the importance of a strong domestic energy industry. However, some Democrats have proposed limiting American energy production – threatening our nation’s energy security when we need it most. In a recent op-ed, GAIN Strategic Advisor James “Spider” Marks outlined the danger posed by presumptive Democratic presidential nominee Joe Biden’s willingness to limit the use of traditional fuels.

In the most recent Democratic presidential debate, Biden promised “no new fracking,” in contradiction to his official position. Although staffers later said that he misspoke, Biden’s statement should greatly concern voters. Marks explains:

“…With economic outlook bleak for the remainder of 2020, an added fracking operations ban in 2021 could instigate a $7.1 trillion gross domestic product loss by 2030.”

Beyond massive economic harm, banning fracking would also weaken America’s national security. Marks elaborates:

“[Energy] production has allowed the United States to become a valuable partner for several nations previously dependent on Russia for its energy resources, such as Ukraine. This obviously unsettles international rivals such as China and Russia…”

At best, Biden’s statement was an attempt to earn progressive supporters with a hollow promise. At worst, it means that he intends to cripple a crucial American industry.  Neither possibility bodes well for the prospect of his leadership. Marks writes:

“In the aftermath of the coronavirus and the havoc it wreaked on Wall Street, America is going to need strong economic policies to move forward and recover as a nation. Devastating one of our critical economic sectors, and one especially hard hit during this pandemic, would be foolhardy.”

Even if Biden’s anti-energy rhetoric on the campaign trail doesn’t reflect his policy goals, voters should be wary of opportunistic politicians that are willing to attack domestic industry to win brownie points with progressives. Marks concludes:

“Before the presidential campaign is moving at full speed again and Election Day is upon us, Americans need to know the costs of certain policy statements coming out of the former vice president’s mouth — clarified or otherwise.”