American Military News by Timothy Frudd October 16, 2024
A new study shows that the Biden-Harris administration’s ban on new liquefied natural gas export permits could put almost one million jobs at risk over the next 20 years if the ban is not overturned.
According to a study conducted by the National Association of Manufacturers and PwC shared with Fox Business, if the ban on new permits for liquefied natural gas exports remains in place for the next two decades, anywhere from 515,960 and 901,250 jobs could be at risk, along with approximately $103.9 billion in labor income. According to Fox Business, the recent study used the Energy Department’s economic outlook prior to the Biden-Harris administration’s ban to calculate the potential impact over the next 20 years.
The study also indicated that the administration’s ban would reduce the country’s possible gross domestic product by $122.5 billion and $215.7 billion in 2044, while $26.9 billion to $47.7 billion in taxes and royalty revenues to the local, state, and federal government would be at risk if the gas ban remains in place.
Contrasting an “all-of-the-above energy strategy” with the Biden-Harris administration’s liquefied natural gas export permit ban, National Association of Manufacturers CEO Jay Timmons told Fox Business, “With an all-of-the-above energy strategy, we don’t have to choose between national security, economic growth, and environmental protection—they go hand in hand. Today’s research highlights the massive potential we unlock when we embrace American energy production.”
More:
https://americanmilitarynews.com/2024/10/nearly-1-million-jobs-at-risk-after-biden-harris-gas-ban-study-shows/
