During his final campaign rally in Pennsylvania Saturday night, President Donald Trump announced that he signed an executive memorandum dedicated to protecting jobs, economic opportunities, and national security by ensuring support of hydraulic fracturing.
Hydraulic fracturing, or fracking, and other innovative technologies are crucial for the use of domestic natural resources, including energy resources.
The memo cites a 2019 Council of Economic Advisers report that estimated fracking and other innovations had reduced energy prices and saved Americans $203 billion per year. The report also claimed that banning or restricting such technologies would increase the prices of gasoline, electricity, heating, and air conditioning, which would greatly harm senior citizens, middle- and lower-income Americans, and others on fixed incomes.
“Under my Administration, we are no longer beholden to foreign powers or domestic radicals. We are powering our Nation on our own terms,” Trump said.
In the memo, Trump additionally emphasizes his opposition to misguided policies that would place the United States back at the mercy of foreign oil and natural gas. His continued push for energy independence and new technologies has allowed the United States to become a net energy exporter for the first time since 1953, with American energy exports reaching an all-time high last year.
Specifically, the memo directs the administration to assess the potential consequences of fracking bans – such as job losses – on Americans who are directly or indirectly benefiting from the energy industry and other industries, including mining for sand and other minerals. The administration will also assess potential effects on consumers, property owners, local governments, schools, hospitals, and medical clinics.
In March, former Vice President and Democratic Presidential Candidate Joe Biden argued that he would not support new fracking. In October, Biden stated that he would not entirely ban fracking, but wants to transition to zero-emission energy.
That is not enough of a promise for the American people and energy industry, Trump said during his Pennsylvania rally.
Energy Secretary Dan Brouillette commended Trump’s executive memo, stating that fracking and associated technologies made the United States the No. 1 producer of oil and gas in the world, bringing an eight-fold increase in natural gas productivity since 2007. Additionally, the increased natural gas productivity created millions of jobs and lowered the price of gas by 63 percent.
“Today President Trump once again reaffirmed his unwavering commitment to the American energy industry,” Brouillette said. “A ban on fracking would result in the loss of millions of jobs, the doubling of gasoline prices, and the quadrupling of electricity costs. The Department of Energy will swiftly and thoroughly execute our tasks as directed by President Trump today to evaluate the importance of maintaining this technology. Under President Trump’s leadership, we will continue to move forward – not backward – and ensure American energy remains the envy of the world.”