Elections
Biden Proposal On Fracking Could Cost Up To 1M Jobs
Ideas frequently touted by Democrat nominee for President and former Vice President Joe Biden to ban or largely move away from fracking will potentially have devastating consequences, according to an interview with the American Petroleum Institute by Fox Business.
Senior vice president of policy, economics, and regulatory affairs Frank Macchiarola told Fox Business that policies proposed by Biden would greatly impact U.S. energy independence and the economy as a whole after it just took a massive dive from the coronavirus shutdowns.
“The United States has experienced essentially a generational shift in energy security, economic security, employment and CO2 emission reductions as a result of the shale revolution,” Macchiarola, said. “A policy that would go backward from that, in our view, is the wrong direction.”
The API is a national trade group that represents nearly 600 oil and gas members and sees the impacts politics has on fracking up-close.
If a fracking ban went into place in 2021 and applied to federal lands and waters, it would cause the “biggest hit to employment in its first two years with job losses reaching nearly 1 million in 2022,” according to API.
“The plan would result in a total of 417,000 fewer jobs by 2030 as other jobs would be created elsewhere in the economy, and a $700 billion hit to U.S. gross domestic product,” reports Fox.
Biden’s stance on the practice has shifted many times and it is unclear which is his official stance. Bad polling in states that favor fracking may push Biden to abandon his harsh rhetoric.
Biden declared on Monday that he’s “not banning fracking,” but a look at past claims seems to contradict this.
The former VP once said he would end the use of fossil fuels.
In a July 2019 town hall, Biden was asked if there was going to be a tolerance for “fossil fuels, including coal and fracking” in his potential administration.
To which he replied, “We would make sure it’s eliminated,” as reported by the Post Gazette.
The Pittsburgh paper also pointed out Biden’s comment in a March debate when Sen. Bernie Sanders (I-VT) said he was focused on “stopping fracking as soon as we possibly can. I’m talking about telling the fossil fuel industry that they are going to stop destroying this planet.”
“So am I,” Biden replied, “No more—no new fracking.”
Whatever Biden’s true stance is may be unknown, but the consequences could prove detrimental to parts of the nation that depend on it for their local economies.
The House Oversight Committee subpoenaed financial records that reveal the Biden family received payments that totaled more than 1 million dollars from accounts connected to Rob Walker, a business associate of Hunter Biden, who received numerous lucrative donations from Chinese firms – inherently connected to the Chinese Communist Party.
The financial records revealed that Hunter Biden and Jim Biden, Joe Biden’s brother, had worked with Walker. Why is this important? It is important because the investigation also revealed that Walker, Hunter and business associates James Gilliar and Tony Bobulinksi had a a joint-venture called Sinohawk Holdings, which was planning to partner with Chinese energy firm CEFC, according to reports.
Moreover, Bobulinski spoke out about the Biden families dealings with China. In an exclusive with Fox New’s Tucker Carlson last November, he accused President Biden of being directly entangled “in a plot to make millions of dollars as part of Bobulinski and the first son’s 2017 SinoHawk Holdings venture with the Chinese state-owned energy company CEFC,” as reported.
“Hunter Biden, in his own words, [has said] he is putting his entire family’s family legacy on the line to do business with the Chinese Communist Party [via] CEFC,” Bobulinski told Fox News. “(Hunter) says that in his own words, in numerous text messages and other things I’ve provided both to the FBI and other whistleblowers.”
The committee records were obtained by Republican Congressman and Committee Chairman, James Comer, after subpoenaing Bank of America. The articles revealed that “at least three family members” received large payments from a one of Walker’s bank accounts. That account is labeled as “Robinson Walker, LLC,” and one of the family members is Hallie Biden, the widow of President Biden’s son Beau, according to Fox News.
Moreover, a spokesperson for the Biden legal team firmly stated that the payments did occur but it was only Hunter, Jim and Hallie who had received the payments from the Chinese firm. They said that the accounts “belonged to Hunter, his uncle and Hallie – nobody else.”
Furthermore, the records revealed that the Chinese firm State Energy HK Limited had wired 3 million dollars to Walkers account. This took place on the 1st of March, 2017, only a few months after Joe Biden had left the White House.
The committee noted that, “After the Robinson Walker, LLC account received $3 million from State Energy HK Limited, Biden family members and their companies began receiving incremental payments over a period of approximately three months,” continuing to state that, “The recipients of the money included Hallie Biden, companies associated with Hunter Biden and James Biden, and an unknown bank account identified as ‘Biden.’”
OPINION:
With the current tensions between the U.S., Russia, and China this should be a concern to all people residing in the United States. If the Biden family has been receiving payments from Chinese owned companies we should all be worried about the integrity of the family and the leverage China has over our current President. The real question is how exposed is the Biden family to Chinese influence?
What information could’ve been captured by Chinese intelligence and if so, how far did Chinese intelligence penetrate our government. It isn’t far fetched. Why, because President Biden was negligent with classified information, even as far back as his time in the Senate. The recent FBI raids revealed that top secret documents found in Biden’s office also were obtained during his time as Vice President.
More importantly, the Biden family finances expose a very real threat to our republic, when our leadership is on the payroll of our adversaries. And even if Biden didn’t directly receive payments from China, his family did and that in and of itself, doesn’t mean he didn’t profit from it.
We will continue to follow the story and keep you updated.
You can follow Alexander Carter on Twitter @AlexCarterDC
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