Money & The Economy

Biden’s Energy Executive Orders Will Have ‘Huge Costs’ On American Families, Economist Says

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Nick Loris, an economist with the Heritage Foundation, spoke with the Daily Caller News Foundation’s Samantha Renck about President Joe Biden’s executive orders on energy and the environment, what impact they might have, and more.

“The Paris Climate Accord was kind of doomed from the start” Loris, who published the report Assessing Themes in the Biden Energy and Environment Platform,” said. “It would impose huge costs on American families and consumers and businesses in terms of higher energy prices and really be devoid of any meaningful climate benefit.”

Loris also discussed how rejoining the Paris Climate Accord could impact fracking in the United States.

“So what’s going to happen next is the administration will set what are known as ‘nationally-determined contributions’ and that’s effectively what the administration is going to do to get to emissions reduction targets as part of their Paris Climate pledge,” he said.

“It’s going to be… a whole host of new regulations on the [fracking] industry,” Loris said.

Loris also discussed Biden’s executive order on revoking the presidential permit for the Keystone XL pipeline, what economic impact it could have and more.

WATCH:

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