One group paying very close attention to Thursday night’s presidential debate was the oil and gas industry. Let’s just say they didn’t like what they heard from Joe Biden as he laid out a plan to transition the U.S. away from fossil fuels if he becomes president. If you drive a car, you won’t like what you’re about to hear from Continental Resources founder and Executive Chairman Harold Hamm, who told Fox Business Friday “six-dollar gas is coming if Trump isn’t re-elected.” Wait, there’s more. “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,” added Hamm, who is an advisor to President Trump.
Biden tried to dig himself out of the hole he created with his statement at the debate, telling reporters on Friday at the Nashville airport that “We’re not getting rid of fossil fuels. We’re getting rid of the subsidies for fossil fuels, but we’re not getting rid of fossil fuels for a long time.”
The Green New Deal proposed by Democrats calls for greenhouse-gas emissions from human sources to be reduced by 40% to 60% of 2010 levels by 2030 and achieving net-zero emissions by 2050.
According to a study released by PricewaterhouseCoopers and the American Petroleum Institute, in 2015 the U.S. oil and gas industry supported more than 10 million jobs that pay on average more than $100,000 each. It’s understandable why people in Texas, Ohio, Oklahoma, North Dakota, Michigan and Pennsylvania would be a little nervous.