Energy And Climate Policies In The Presidential Race

0
Energy And Climate Policies In The Presidential Race

The 2024 presidential race has starkly highlighted the growing chasm between Republicans and Democrats on energy and climate policy.

In fact, it could be argued that the two parties have never been further apart on the issue after Republican Donald Trump’s selection of J.D. Vance as his running mate and Kamala Harris’s rapid ascension as the presumptive Democratic nominee after President Joe Biden dropped out.

Trump’s choice of Vance reinforces the GOP’s pro-oil stance. Vance is a staunch supporter of drilling and hydraulic fracturing (fracking), often criticizing renewable energy sources like solar and wind. He views the Biden administration’s approach as a direct threat to U.S. energy production, a message that could resonate with voters grappling with a 20% rise in prices for most goods and services since Biden took office.

Vance’s policies aim to cut red tape and streamline permitting for oil and gas projects nationwide. His legislative efforts include co-sponsoring the “Power Act,” requiring Congressional approval before delaying leases or permits for oil, gas and mining on federal lands, and the “STOVE Act,” which would block federal agencies from banning gas stoves and appliances.

With the economy and inflation as central issues in the upcoming election, particularly in battleground states like Pennsylvania, Michigan, and Wisconsin, Vance’s selection is a strategic move. Pennsylvania, a significant natural gas producer, stands to be influenced by Vance’s pro-fracking stance. The shale boom over the past 15 years, driven by fracking in regions like the Marcellus and Utica Shales, underscores the importance of these policies to local economies.

Trump and Vance’s campaign emphasizes lowering fuel prices by increasing domestic oil and gas production, thereby reducing inflation. They pledge to leave the Paris climate agreement (again) and cut federal subsidies for clean energy technology, aiming to make America “energy dominant” by easing regulations on domestic production.

Under Trump, America will be “done buying energy from countries that hate us,” Vance has said. “We’re going to get it right here, from American workers in Pennsylvania and Ohio and across the country. We’re done sacrificing supply chains to unlimited global trade, and we’re going to stamp more and more products with that beautiful label, ‘Made in the USA.'”

Vance and Trump oppose government subsidies for renewable energy, arguing that these technologies should compete on their own. They also criticize environmental, social, and governance (ESG) investing, with Vance, a former venture capitalist, calling it a “massive racket” that harms American jobs. That view has gained traction with voters, especially after Russia’s invasion of Ukraine in 2022 highlighted the need for supply security.

Vance’s legislative efforts include promoting domestic manufacturing for clean energy while opposing policies like the suspension of tariffs on Chinese solar components. He has also introduced the “Drive American Act” to repeal the federal tax credit for electric vehicles, advocating instead for tax credits for U.S.-made gasoline or diesel vehicles.

“While most Americans want to drive a gas-powered car, the Biden administration pursues a policy explicitly designed to increase the cost of gas. They do this in the name of the environment, but all they’re doing is enriching the dirtiest economy in the world at the expense of auto workers in Ohio, Pennsylvania, and Michigan,” he said in a statement last September, referring to China and its position as the world’s largest producer of electric vehicles.

Vance has said he would eliminate much of the Inflation Reduction Act, Biden’s landmark 2022 climate law. However, if some local companies support specific provisions, Vance has expressed flexibility about keeping portions of the law.

Kamala Harris’s aggressive stance on climate policy and opposition to domestic drilling presents a stark contrast to the Trump-Vance campaign. Harris has previously promised to end fracking and has been part of an administration prioritizing climate goals over affordability, including pausing new LNG export license approvals. This stance may present challenges, even if she selects Pennsylvania Governor Josh Shapiro as her running mate.

The 2024 presidential race presents voters with a clear choice between two divergent energy and climate policies. Trump’s “America First” energy policy, bolstered by Vance’s legislative initiatives, focuses on reducing fuel prices and achieving energy independence. In contrast, Harris’s progressive climate agenda aims to tackle environmental challenges but faces potential pushback for its impact on affordability and traditional energy sectors.

As the election approaches, the differing visions for America’s energy future will be a pivotal issue, particularly in key battleground states. The outcome will not only shape the nation’s energy landscape but also influence the broader economic fight against inflation and the pursuit of sustainable energy solutions.

link

Leave a Reply

Your email address will not be published. Required fields are marked *