WASHINGTON (Sputnik) – US President Donald Trump says he has signed an order to protect the American energy industry and hydraulic fracturing.
On Saturday Trump wrote on Twitter that his recent order will provide jobs and low energy bills.
In a memorandum released by the White House on Saturday, Trump said that hydraulic fracturing, also known as fracking, has become “one of the great success stories of our time,” opening up new sources of inexpensive and reliable energy and producing more jobs for Americans.
According to an October 2019 report from the Council of Economic Advisers (CEA), mentioned in Trump’s memorandum, the use of fracking and other innovations had lowered energy prices thus saving US consumers $203 billion per year or $2,500 in annual savings for a family of four.
Trump stressed in his memorandum that the lower energy prices that are the result of fracking benefit mostly low-income households in the US, as they spend a larger share of their income on energy bills.
Trump has been a strong supporter of the oil industry in the United States. This election year he has criticized his Democratic rival Joe Biden for wanting to ban fracking.
In the last presidential debate, Biden said he would not ban fracking if elected, but later mentioned he would eventually like to make a transition away from the oil industry to clean energy production.
Sourse: sputniknews.com
0.00 (0%) 0 votes
