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To fracture or not to fracture is not the question for Harris
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To fracture or not to fracture is not the question for Harris

A week before election day, as Pennsylvania looming as the swing state to win the White House, Kamala Harris assuaged some concerns about her tolerance of fracking, the predominant method of extracting natural gas that has made the United States the largest producer of natural gas in the world.

But it remains unclear whether Harris would wholeheartedly support natural gas, including critical pipeline infrastructure to transport that gas for power generation, home heating and export to U.S. allies.

The chief executive of the National Gas Pipeline Association told Forbes: “I think it’s not clear. I think it’s not yet clear whether Harris would embrace the natural gas value chain.

“Every politician should be asked how they plan to build the energy infrastructure, including the pipelines, needed to meet this country’s growing energy demand,” said Amy Andryszak, president and CEO of the Interstate Natural Gas Association of America (INGAA).

Andryszak praised Harris’ new position of “not banning fracking” and her recognition that the country needs to reform the process by which pipelines are permitted.

However enable reform this would require statutory changes driven by Congress, an administration that “builds on the importance of natural gas”, emphasizes the value of natural gas and “how good a fuel source it is” would be helpful and supportive industry, Andryszak said.

“This tone can be set from above,” she said.

Natural gas accounts for 43% of electricity generation in the United States, according to the Energy Information Administration.

“Gas demand currently exceeds the capacity of the associated pipeline,” Andryszak said.

Between 2010 and 2022, U.S. demand for natural gas increased by 45%. This outpaced pipeline capacity growth of just 28%.

Less than a billion cubic feet of additional capacity was added last year, she said.

“What these statistics tell us is that demand for natural gas is increasing year over year, but pipeline capacity additions are not keeping up,” Andryszak said.

“If we don’t build more pipelines, we’re going to have a real mismatch between supply and demand. And this mismatch will only grow,” Andryszak said.

She made a clear call for the new administration to prioritize the expansion of energy infrastructure to meet the country’s growing demand for electricity.

Forbes reported that in light of AI, data centers and the energy transition, centered around electrification, the demand for electricity is increasing exponentially.

Half of America produces natural gas

Pennsylvania is the American gas powerhouse after Texas, but more than half of the American states produce this resource.

In Pennsylvania, fracking supports approximately 123,000 jobs and generates more than $41 billion in revenue. economic activity is at stake.

But 37 states have extracted natural gas while 19 states, including Harris’ home state of California, produced natural gas through hydraulic fracturing in 2023, according to the EIA.

Most natural gas is used for electricity generation, and most U.S. households use it for space and water heating, cooking and drying clothes, according to the American Gas Association, which represents 200 companies which supply natural gas to consumers.

Forbes has reported extensively on Biden Harris Industrial Energy Policy which is investing $1,000 billion to develop a new clean energy economy.

While Harris touted the unprecedented investment, she also said her administration would not be “a continuation of Joe Biden’s presidency.”

In his most recent interview with Anderson Cooper, Harris said“I think we have proven that we can invest in a clean energy economy. We can mitigate greenhouse gas emissions. We can work to maintain what we need to do to protect our beautiful earth and not ban fracking.

It was music to Andryszak’s ears.

“I wish the Biden administration had done more to build on the strategic resource that we have in natural gas, which I think has been a catalyst” for renewable energy deployment, she said.

THE Energy Research Institute released a list of 250 ways the Biden Harris administration has made it harder to produce oil and gas.

In short, the Biden Harris administration started by killing the Keystone XL Pipeline and impose a moratorium on all oil and gas onshore and offshore leases.

The administration ends its mandate with a pause on new US exports of liquefied natural gas and infrastructure projects.

“If you want renewable energy sources to come online, you’re going to need natural gas and associated infrastructure,” Andryszak said. “Nothing compares to natural gas when it comes to a complementary, reliable, on-demand fuel source. »

Harris avatars

So far, Kamala Harris’ decision to resort to fossil fuels depends on which Harris you ask.

It’s no mystery that the presidential candidate has given the energy industry a boost.

As a senator, Harris co-sponsored the famous Green New Deal to eliminate fossil fuels and shift the entire economy to renewable resources.

California Attorney General Harris attacked oil and gas majors when she was a prosecutor, and in 2019, candidate Harris the oil companies have been warned they should prepare to pay massive fines and even criminal charges for their role in climate change if she becomes president.

In accordance with this position, in 2019candidate Harris told CNN: “There is no question that I support banning fracking. »

In 2020Once she joined President Biden’s roster as vice president, Harris declared, “Joe Biden will not ban fracking.” » President Biden obviously did not ban fracking.

Some observers have said a federal ban would require an act of Congress, not an executive order from the President of the United States. The federal government could, however, argue that hydraulic fracturing pollutes the environment or threatens human health to impose new restrictions or fines.

Meanwhile, states could launch their own bans; five states to have. Governor of California Gavin Newsomfor example, has been working for several years to ban the practice in the state.

During the 2024 campaign, since she was at the top of the Democratic ticket, Harris said she would not ban fracking.

“I interpret the Vice President’s change in position on fracking as a recognition that this country has a growing demand for energy and that natural gas is an abundant, affordable and reliable source of energy in the United States. United, which promoted decarbonization,” Andryszak said.

An enemy of oil and gas

Since the start of the campaign, Harris has boasted about record oil and gas production in the United States.

During her debate against Trump, Harris said the United States had seen “the largest increase in domestic oil production in history because of an approach that recognizes that we cannot depend too much on foreign oil “.

According to the EIA, the United States produced an average of 12.9 million barrels per day in 2023 under Biden, breaking the previous U.S. record of 12.3 million barrels per day set in 2019 under former President Trump.

Typically, there is a time lag of nearly a decade between an oil and gas investment and return.

How much, if any, of current production under Biden can be attributed to his policies rather than market forces and oil company investments is a matter of analysis and debate.

However, in 2019, Forbes reported that Trump raised more money for the U.S. Treasury from domestic oil and gas leases than any president in U.S. history.

Ironically, in the name of national security, Forbes reported recently that the Biden Harris administration is helping Iraq increase its oil and gas production and build a pipeline from Iraq to Turkey.

Over the past four years, there have been a few victories for American fossil fuels Also.

Although President Biden canceled seven leases in Alaska’s Arctic National Wildlife Refuge, he is allowing oil giant ConocoPhillips to continue with its controversial Willow Project, the largest new oil development in Alaska in decades.

Biden also included subsidies in the Inflation Reduction Act to allow oil giants to produce hydrogen from natural gas.