Biden’s Energy Plan Would Negatively Impact America Beyond Our Borders

Biden’s Energy Plan Would Negatively Impact America Beyond Our Borders

July 22, 2020

It’s clear that a Biden presidency would mean a decisive shift in our current energy policy. Biden has been inconsistent in his stance on fracking; said he wouldn’t allow new oil and gas development on federal land or waters; vowed to support lawsuits by state and local governments to sue oil companies over climate change; appointed Alexandria Ocasio-Cortez (D-NY) to his climate policy council; and more. But, what may not be getting proper recognition is the impact that this shift in policy will have beyond our borders. 

President Trump has been successful in encouraging America’s natural gas and oil industry not just because of his domestic policies, but because of his foreign policy decisions. Dan Eberhart, CEO of Canary, one of the largest privately-owned oilfield services companies in the United States, wrote in Forbes:

Trump’s sanctions on the anti-U.S. regime in Iran wiped out some 2 million barrels a day of oil production from the OPEC member, making room for U.S. shale to seize a more significant share of the export market – at the expense of the oil cartel. 

The president’s withdrawal from the Paris Climate Accord, an agreement forged under the Obama-Biden administration in 2015, signaled investors that President Trump was not interested in sacrificing economic growth in exchange for a non-binding climate agreement. 

Biden has indicated that he plans on reverting to the policies enacted during the Obama administration, which would reverse President Trump’s successes and mean re-engaging with Iran. Reengagement would potentially include lightened sanctions for Iran, which might allow it to resume exporting its oil supply at previous levels.

America became the world’s top oil and gas producer under President Trump’s leadership, achieving energy independence for the first time in our country’s history. Particularly right now, as we recover from a global pandemic that has devastated virtually every industry, we cannot change course regarding an industry that does so much for America, both domestically and around the world.

Biden, on the other hand, views America’s energy superpower status very differently. In his “Plan for a Clean Energy Revolution and Environmental Justice,” which was released July 14, he makes clear that he would reorient the United States away from fossil energy…If the Covid-19 pandemic does not permanently set back the U.S. oil and gas boom, a Biden presidency could do it.