Before coronavirus, the energy sector was fueling the Trump economy. Now 2020 Democrats want to throw water on the whole thing.
Fracking specifically helped spur growth in the oil industry over the past several years. That led to a financial boon for Texas coffers.
“Texas Oil & Gas Association just reported recently the economic benefit in tax revenue alone was $16.3 billion,” says The Honorable Jason Isaac, Senior Manager and Distinguished Fellow of Life: Powered at the Texas Public Policy Foundation.
The only thing worst for the oil and gas industry than coronavirus, would be the Democrats' Green New Deal placing more restrictions on fossil fuels.
“It provides over 80 percent of our daily electricity,” says Isaac. “We don't just plug things into a socket and they power up and come on. They're doing that because they're being powered by fossil fuels.”
While coronavirus is a temporary setback for energy, Isaac says a Democrat in the White House could leaving a lasting effect.
“Banning fossil fuels would be uglier than the plague,” he says. “Our survival rates. The health we enjoy every single day. Our clean air. Our access to clean water here in the United States is unparalleled in any other country.”