The Wall Street Journal outlines Mr. Biden’ plans to wreck the US economy:
- ban on drilling leases and development on federal land, which accounts for 22% of oil and 12% of gas production, (and phasing out of all oil and gas)
- “robust federal standards” on methane releases from pipelines as well as storage facilities, which the Trump Administration relaxed.
- use the Endangered Species Act and National Monuments Act to limit lands open to development. Obama walled off 10.7 million acres in the western U.S. for the sage grouse, but Trump pared those back.
- all infrastructure projects that require federal approval or receive federal funds to undergo a “climate test.” Government to project carbon emissions costs attributable to every new pipeline or liquefied natural gas terminal defined such that regulators could ban almost any oil and gas project.
- require carbon sequestration technologies on power plants, which EPA estimates raise capital costs of new gas-fired plants two- to three-fold.
- Additional subsidies for wind and solar power raising prices by battery requirements.
At least the Rasmussen polls show some likelihood of a Trump victory but it seems certain that, even if Biden loses, over half of Americans, including the vast bulk of the “intelligentsia” will vote for penury on energy policies in addition to the Democrats’ debilitating spending, taxing and coronavirus policies.
The Founding Fathers’ fear of democracy as populism brought the constitutional restraints on administration and legislature excesses, the prospects of which that so alarmed them. They might have been surprised that it took over 200 years for these restraints to be dismantled.