By James & # 39; Spider & # 39; Marks for RealClearEnergy
From day one, President Biden has taken bold steps on his energy agenda.
His numerous initiatives include the reversal of several economic policies from the previous government.
In particular, its federal leasing ban is expected to have far-reaching effects on local economies across the country, increasing reliance on foreign countries, including Russia and Saudi Arabia, for our energy needs.
This approach would seriously undermine our country's energy security and make the US heavily dependent on energy imports again.
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In fact, such a ban could increase U.S. oil imports from overseas sources by 2 million barrels a day by 2030 and spend $ 500 billion more on energy from overseas suppliers last year, according to an analysis by the American Petroleum Institute.
This would leave America vulnerable to supply shortages and allow competitors like Russia and Middle Eastern countries – which are among the largest natural gas producers but still lag behind the US – greater leverage in global energy markets.
The analysis also shows a potential of nearly 1 million jobs lost by 2022, particularly in top manufacturing states like Wyoming, Colorado, Utah, and New Mexico.
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With our country continuing to recover from the economic downturn from the pandemic, now is not the time to put well-paying jobs at risk.
Looking back at the 1970s, an oil embargo imposed on the US by the oil-producing exporting countries (OPEC) made Americans wait in queues to get gas on certain days. Gas prices also rose 40 percent within a few months, and President Nixon announced on November 7, 1973 a goal of US energy independence by 1980.
It's hard to imagine that 50 years ago we couldn't decide when to fill up our cars or trucks. When we were allowed to get gasoline according to a bureaucratic numbering system, it took hours in a row before we came to a pump.
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I lived this inconvenience. We don't have to repeat this nightmare.
The U.S. has since bounced back thanks to a domestic energy transition and innovations like bidirectional drilling and hydraulic fracturing, which has resulted in U.S. oil production doubling over the past decade.
According to a recent Rasmussen poll, 69 percent of voters say maintaining energy independence is more important than banning fracking. Even if the US continues to import oil, export opportunities have increased dramatically.
In fact, according to the US Energy Information Administration (EIA), the US exported more total energy annually in 2019 than for the first time in 67 years.
Ending the development of new oil and gas leases to reduce greenhouse gas emissions can actually do the opposite.
The United Nations' 2020 Emissions Gap Report recently found that the US has made the greatest strides of any major economy in reducing its carbon footprint.
The report found that per capita greenhouse gas emissions continue to rise in China, India and Russia, while emissions in the US have declined by an average of 0.4% annually over the past decade.
A 2016 Obama-era Home Office report concluded that “America’s greenhouse gas emissions are barely affected by leasing decisions and, indeed, could increase slightly if the US OCS is not re-leased. ”
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The report goes on to say, "Foreign oil wells will replace reduced OCS supplies, and the production and transportation of this foreign oil would emit more greenhouse gases." More worryingly, the US has no choice but to revert to coal and other less clean forms of energy, which would also have a negative impact on emissions.
The US is a world leader in energy, and stopping new oil and gas development on federal states will allow OPEC, Russia, and the Middle Eastern countries to fill the void.
By losing our position as the world leader in energy, we are showing that we are unable to support our European allies with reliable energy or to increase our own domestic energy needs.
President Biden's moratorium on state and waterfront oil and gas leases should be reconsidered as our domestic energy strength is vital both here at home and to our allies around the world.
Syndicated with permission from RealClearWire.
James "Spider" Marks is a retired major general and strategic advisor to the GAIN Coalition – Grow America's Infrastructure Now.
The opinions expressed by contributors and / or content partners are their own and do not necessarily reflect the views of The Political Insider.