2020 Democrat candidates are calling for dramatically less oil production in the US. This is just what Russia and Saudi Arabia need.
Trump has been very bad for Russian and Saudi business. By implementing policies that helped expand American oil and natural gas production, Trump has indirectly attacked their economies. Under Trump, US oil production has exploded to unprecedented levels.
Senator Kamala Harris said, “there’s no question. I’m in favor of banning fracking.” Senator Bernie Sanders agreed, saying, “any proposal to avert the climate crisis must include a full fracking ban on public and private lands.” Sanders went on to say, “when we are in the White House, we will end the era of fossil fuels, and that includes fracking.
Former Vice President Joe Biden was relatively limited in his claims, saying only that he would stop, “oil drilling or gas drilling on federal lands.” In other words, he committed to no new wells on the vast federal lands.Under any of these policies, American oil and gas production would plummet. It would be harder or impossible for many American producers to operate at all. Even under the more limited Democrat proposals, investor money for the oil producers would like dry up.
What the Democrats need to realize is that these policies would also mean huge boosts for other economies, especially Russia’s and Saudi Arabia’s. It would provide economic and political support for Putin and the Saudi monarchy. The truth is, the Kremlin and the palaces in Riyadh have every reason to support the Democrats, not Trump.
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