Biden energy restrictions would mean 1M jobs lost, more foreign oil imports, trade group warns

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.

Democratic presidential nominee Joe Biden’s climate plan includes “banning new oil and gas permitting on public lands and waters” in favor of renewables like wind power.

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Mike Sommers, the president and CEO of the American Petroleum Institute, said there is “far too much at stake” for 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.

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