Petroleum and
natural gas
industries
provide
about 85%
of America's
energy.
Wind and solar
provide barely
over 3%.
Thanks to the
hydraulic fracking
oil shale revolution,
America is now
a net petroleum
and gas exporter,
no longer subject
to the mercy of OPEC,
Saudi Arabia, Russia,
Iran, etc.
Russia and
Saudi Arabia
recently flooded
the global market
with underpriced
petroleum that
filled most
available storage
capacity.
Then a COVID-19
pandemic severely
reduced energy
demand.
Green New Deal
activists are
now cheering
a prospective
industry demise.
Representative
Alexandria
Ocasio-Cortez,
( D, for dingbat - N.Y. )
cheered a drop
in oil prices
below zero
as a positive
development
to advance the
Green New Deal.
She tweeted:
"You absolutely
love to see it.
Fossil fuels are
in long-term
structural decline.
This along w/
low interest rates
means it's
the right time
to create
millions of jobs
transitioning
to renewable
and clean energy."
"A key opportunity,"
she added.
Joe Biden
has declared
that if elected,
he will ban
all new drilling
and fracking
on public lands.
Meanwhile,
former Texas
Governor, and
now U.S. Energy
Secretary,
Rick Perry,
recently told
Fox News host
Tucker Carlson
that America is
"on the verge
of a massive collapse
of an industry that we
worked awfully hard,
over the course of the
last three or four years,
to build up to
the number one
oil and gas
producing country
in the world,
giving Americans
some affordable
energy resources."
Perry added,
"If we woke up
a year from now,
and there were
five big companies
because all of these
independents were
gone out of business
. . . I would suggest
that would make
a lot of Americans
really nervous."