Democratic presidential candidate Robert F. Kennedy Jr. banned hydraulic fracturing, in any other case often known as fracking, the method of manufacturing oil or pure fuel.
In a submit shared on social media, Kennedy stated such a ban would come as a part of his 10-step plan to “repair the plastic air pollution disaster.” He added that hydraulic fracturing gives the uncooked materials for almost all of domestically produced plastics, that are largely extracted from petroleum merchandise and pure fuel.
Vitality skilled Alex Epstein stated in response to Kennedy’s submit: “I informed you all this man is anti-freedom.” “Banning fracking would instantly plunge america right into a despair. Kennedy would accomplish that to be able to ‘remedy’ the amorphous plastics disaster.”
“I do know some conservatives who like RFK Jr., however this disqualifies him 100%,” added Isaac Orr, a coverage fellow who focuses on power points on the Middle for the American Expertise. “We rightly criticize Biden for limiting oil and fuel manufacturing, however even he has not been express about banning fracking.”
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In keeping with the Vitality Info Administration, an estimated 2.8 billion barrels, equal to 7.8 million barrels per day, of crude oil have been produced straight from tight oil assets in 2022. The hydraulic fracturing drilling technique is required to entry such tight oil assets buried deep in reservoirs. Subterranean.
General, roughly 67% of the full crude oil produced domestically – the idea of petroleum merchandise – is derived from tight oil assets, the info confirmed.
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Moreover, hydraulic fracturing has led to a growth in pure fuel manufacturing in america over the previous decade. Because of this, month-to-month dry shale fuel manufacturing elevated from about 5 billion cubic ft per day to greater than 80 billion cubic ft per day.
“A ban on fracking — a observe that has been used for greater than 50 years in america and different international locations — would lead to hundreds of thousands of job losses, increased costs at gasoline pumps, and better electrical energy prices for all People.” Former Vitality Secretary Dan Brouillette wrote in a 2021 report on hydraulic fracturing.
“Such a ban would negate america’ standing as the most important oil and fuel producing nation and return us to being a internet importer of oil and fuel by 2025,” Brouillette continued. He added that this “will weaken America’s geopolitical place and negatively have an effect on our nationwide safety.”
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The DOE report concluded that banning fracking would result in a 244% enhance in pure fuel costs, kill 7.7 million jobs, cut back U.S. GDP by $1.1 trillion, and lead to $950 billion in labor wage losses.
“Eliminating the core know-how liable for the expansion of oil and pure fuel manufacturing in america would enhance costs for pure fuel, transportation fuels, and electrical energy, making a ripple impact with severe penalties for the nation’s financial system, surroundings, and geopolitical standing,” the report said.
The Kennedy marketing campaign didn’t instantly reply to a request for remark.