REPORT: Joe Biden’s Energy Plan Would Cost 1 Million Jobs, Increase Foreign Dependence

Gage Skidmore from Surprise, AZ, United States of America via Wikimedia Commons

A trade group is warning that the energy restriction proposed by Joe Biden would cost one million jobs and increase dependence on foreign oil.

According to Fox Business:

Banning natural gas and oil development on public lands and waters would cost Americans approximately 1 million jobs by 2022 and force the U.S. to import significantly more foreign oil, a top oil and natural gas industry group claimed in a new analysis on Wednesday.

Mike Sommers, the president, and CEO of the American Petroleum Institute is sounding the alarms about a federal leasing ban:

“Banning federal leasing and development on federal lands and waters would derail decades of U.S. energy progress and return us to the days of relying on foreign energy sources hostile to American interests,” Sommers said in a statement.

His group claims that U.S. oil imports from foreign sources could jump by 2 million barrels a day by 2030 if such policies are enacted.

A federal leasing ban would also cost nearly one million jobs by 2022, including 120,000 in Texas, 62,000 in New Mexico and 33,000 in Wyoming, according to the American Petroleum Institute’s analysis.

Biden answered a question by CNN’s Dana Bash asking if there would be room in the Biden administration for fossil fuels with a resounding “no.”

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