Biden’s Proposed Ban on New Oil and Gas Leasing Will Dramatically Affect Western States

Biden’s Proposed Ban on New Oil and Gas Leasing Will Dramatically Affect Western States

December 21, 2020

President-elect Biden has made clear his administration will take aggressive action on climate as soon as he steps into office. With his recent proposed Cabinet picks, we labeled as his “Environmental Dream Team”, it’s apparent just how far the progressives and the eco-left have pulled Biden’s climate agenda.

One of Biden’s promises on climate is a vow to put an end to any new oil and gas development on federal lands and waters. While not the outright ban he originally supported, this will still severely impact Utah and other western states with huge chunks of federal lands.

KSL News reports on a study conducted by University of Wyoming professor Tim Considine, that predicts staggering losses to those states over four years under a Biden administration:

  • An average of 72,818 fewer jobs annually
  • Lost wages totaling $19.6 billion
  • Declining economic activity of $43.8 billion
  • Tax revenues decreasing by $10.8 billion

These forecasted impacts play out in Utah, Alaska, California, Colorado, Montana, New Mexico, North Dakota and Wyoming.

In Utah, the study says such a ban would cost 3,232 jobs on average each year during Biden’s inaugural term, $1.3 billion in oil and natural gas investments, losses in production valued at $650 million, a decrease of $255 million in tax revenue to the state, a drop of $1.4 billion in gross domestic product and $664 million in lost wages.

These energy-rich states depend on the oil and gas industry for jobs, tax revenue, and a reliable energy source that doesn’t skyrocket their bills each month. The economic impacts of these proposed bans would dramatically stifle these states’ communities and economic growth.

Utah Gov. elect Spencer Cox said, “A sudden ban on oil, gas and coal right now could crush Utah’s rural economies and further weaken the oil and gas economy. Plus we’re making progress on reducing carbon emissions through cleaner Tier 3 fuels, which now represent at least 75% of all fuel purchased in Utah.”

We couldn’t agree more. The United States’ natural gas industry has helped reduce our countries carbon emissions, while continuing to provide reliable and affordable energy to American households. Restricting an industry that supports almost 10 million American jobs, secures our country’s energy independence, and brings in billions in revenue is not in the best interest of the American people.