Frank Macchiarola, senior vice president of Policy, Economics and Regulatory Affairs at the American Petroleum Institute (API), said in an interview on SiriusXM’s Breitbart News Saturday with host Matt Boyle that if President Joe Biden puts a permanent ban on oil and gas development on federal waters and land, it could cost 1 million American jobs.
Boyle asked Macchiarola about the significance of Biden revoking the permit for the Keystone XL Pipeline and putting a 60-day pause on federal land leasing in his first days in office.
“I think the first four days of the Biden Administration have given a clear picture of what the next four years could look like,” he said. “President Biden comes into office with a real economic headwind and a difficult labor market but at the same time he inherited an energy [landscape] that’s stronger because of America’s shale revolution.”
“We’ve produced lower household energy costs as a result of U.S. energy and less reliance on foreign energy sources,” Macchiarola added.
“The president has a choice to make: He can maintain U.S. leadership and maintain and support our economic recovery with American energy or he can pursue policies that destroy jobs and at the same time increase energy imports,” he further asserted.