Economist Steve Moore appeared on Fox Business Tuesday to discuss what he called the significance of expanding domestic oil and gas production in the United States.
President Donald Trump’s Executive Order 14154 aims to secure U.S. energy independence and global leadership by awarding 10-year oil and gas leases. During an appearance on “The Bottom Line,” Moore said that if Trump’s energy policies succeed, then America will no longer have to rely on foreign oil.
“If Trump goes forward with what he wants to do, and our energy secretary is all in on this, produce as much oil and gas as we can here at home in Texas and North Dakota and Oklahoma, and these other states. Then we’re not held hostage anymore to what’s happening in the Middle East,” Moore said. “That’s what’s so frustrating. We have more of this stuff than anybody does.”
WATCH:
Moore then pointed to some of former President Joe Biden’s early decisions, particularly the cancellation of pipelines. Moore said these actions left the U.S. vulnerable to external energy crises.
“I don’t want to overemphasize the Strategic Petroleum Reserve. It’s good that we have this sort of safety knot in case you have some kind of blow-up in the Middle East, like we have now. But, ultimately, what Joe Biden did was the most sinister of all,” Moore said. “You guys remember what was the first thing when he became president? He canceled pipelines. He destroyed our energy infrastructure.”
During his first term, Trump signed executive orders to advance major pipelines, including instructing TransCanada to resubmit its application for a cross-border permit for the Keystone XL Pipeline, which is designed to transport oil from the tar sands of Alberta, Canada, to refineries on the Gulf Coast. On his first day in office, Biden revoked the permit for the Keystone XL Pipeline, effectively halting its development.
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