The Briefing Room
General Category => Science, Technology and Knowledge => Energy => Topic started by: rangerrebew on December 20, 2023, 06:35:06 pm
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Biden's 'anti-American' policy is costing US $100bn a year as he clamps down on energy production
© GB News (US)
Joe Biden's "anti-American" policy is set to cost the country roughly $100 billion a year for as long as the Democratic president's policies continue, a report claims.
An investigation has revealed that Biden’s new anti-energy policies, “Environmental, Social and Governance” (ESG) and rising business tax rates means US oil production has fallen 1-5 million daily barrels short of previous trends.
According to the report by economists, Stephen Moore and Casey B. Mulligan, increased costs of oil and gas extraction are reducing annual GDP by about $100 billion.
The experts suggest that in comparison, President Trump’s regulatory and tax policies would have allowed US oil and gas industries to produce more, at lower cost per barrel and cubic foot of gas.
The report says: "The combined addition to U.S. GDP would be roughly $100 billion a year for as long as the policies continued, even without any continued technological progress.
https://www.msn.com/en-us/money/markets/biden-s-anti-american-policy-is-costing-us-100bn-a-year-as-he-clamps-down-on-energy-production/ar-AA1lKJrd?ocid=msedgdhp&pc=U531&cvid=df795b126b0240fb93a88954d299058c&ei=87