Joe Biden's Energy Policy's Effect on the Houston Economy (Nixon: real estate, prices)

[Mr. Football]

In this week's debate, Joe Biden stated that he wants to close down the Oil industry.

If elected, what effect will this have on the Houston economy? Houston is the Oil & Gas capitol of the world. Eliminating or vastly reducing one of the most important base industries for the entire region could mean hundreds of billions of dollars, perhaps trillions in lost revenue for this region. What will be the net effect on jobs, real estate, education, etc. in Houston, Texas and outlying areas should Joe Biden and the Democrat party's energy policy come true? What effect will this policy have on the already economically disadvantaged people in Houston?

Will Houston become the next Detroit under Joe Biden's plan?

[jerbear30]

Originally Posted by Mr. Football

In this week's debate, Joe Biden stated that he wants to close down the Oil industry.

If elected, what effect will this have on the Houston economy? Houston is the Oil & Gas capitol of the world. Eliminating or vastly reducing one of the most important base industries for the entire region could mean hundreds of billions of dollars, perhaps trillions in lost revenue for this region. What will be the net effect on jobs, real estate, education, etc. in Houston, Texas and outlying areas should Joe Biden and the Democrat party's energy policy come true? What effect will this policy have on the already economically disadvantaged people in Houston?

Will Houston become the next Detroit under Joe Biden's plan?

I think what he said was that he wanted to make a plan to transition away from fossil fuels. That is different than saying he wanted to close down the energy industry. Can you imagine the energy industry being in fossil fuels forever? If so why? If not, don't you think it's smart to think about how to transition the industry toward something else? I mean, if the resource of oil is finite, the industry is literally going to disappear unless it transitions to more infinite resources like wind and solar. How did we every get it in our heads that planning for the future is ideologically bad?

[mojo101]

Biden did not say he is going to close down the oil and gas industry?
There are other usage like fertiliser,plastic,resin.
wind and solar ?
the Mayan gets nervous when the sun does not show up and start making human sacrifice!
As for electric cars,they need batteries and what if we run out of lithium,hydrogen,?
any physical resources can run out-say copper

[mojo101]

No one said anything that we can all drive less.
I recall back then if you drive more than 10K miles a year,thats a lot,but now one can drive 10k miles in 3-4 months

[astrohip]

Originally Posted by Mr. Football

In this week's debate, Joe Biden stated that he wants to close down the Oil industry.

Will Houston become the next Detroit under Joe Biden's plan?

That's NOT what he said.

And what Houston becomes is up to Houston.

Originally Posted by jerbear30

I think what he said was that he wanted to make a plan to transition away from fossil fuels. That is different than saying he wanted to close down the energy industry. Can you imagine the energy industry being in fossil fuels forever? If so why? If not, don't you think it's smart to think about how to transition the industry toward something else? I mean, if the resource of oil is finite, the industry is literally going to disappear unless it transitions to more infinite resources like wind and solar. How did we every get it in our heads that planning for the future is ideologically bad?

This. A million times this.

The world is changing. Have you ever seen a movie set in the future with ICE vehicles? Of course not, they're always powered by Unobtanium or whatnot. Houston can still be in the forefront, we just need to ACT.

[bu2]

Originally Posted by Mr. Football

In this week's debate, Joe Biden stated that he wants to close down the Oil industry.

If elected, what effect will this have on the Houston economy? Houston is the Oil & Gas capitol of the world. Eliminating or vastly reducing one of the most important base industries for the entire region could mean hundreds of billions of dollars, perhaps trillions in lost revenue for this region. What will be the net effect on jobs, real estate, education, etc. in Houston, Texas and outlying areas should Joe Biden and the Democrat party's energy policy come true? What effect will this policy have on the already economically disadvantaged people in Houston?

Will Houston become the next Detroit under Joe Biden's plan?

When oil prices dropped from $40/bbl to $10/bbl in 1986, 1 in 4 Houstonians lost their job that year. Restrictions on the oil and gas industry would be very bad for Houston, and a lot of other places in the country.

[mojo101]

I am surprised we dont see EV charge in traditional gas stations.

[Jack Lance]

Actually banning fracking or substantially curtailing it might just be what the Houston economy needs. If you limit fracking that curtails supply and of course if you curtail supply prices go up. Houston's economy is more affected by the price of oil. Most if not all of those oilfield jobs are in west and south Texas.

Under Jimmy Carters administration Houston's oil and gas economy boomed, under Reagan it crashed, so Democrats are not necessarily bad for oil and gas, and Republicans are not necessarily good. The oil and gas economy has not really thrived under Trump and did OK under Obama, Dubya Bush is really the only Republican since Nixon that oversaw a really thriving oil and gas sector...

[mojo101]

Originally Posted by bu2

When oil prices dropped from $40/bbl to $10/bbl in 1986, 1 in 4 Houstonians lost their job that year. Restrictions on the oil and gas industry would be very bad for Houston, and a lot of other places in the country.

we still need natural gas ?
how do we heat our home?
BTW,if Uber and Lyft lost November 3,they will be moving to TX

[mojo101]

Originally Posted by Jack Lance

Actually banning fracking or substantially curtailing it might just be what the Houston economy needs. If you limit fracking that curtails supply and of course if you curtail supply prices go up. Houston's economy is more affected by the price of oil. Most if not all of those oilfield jobs are in west and south Texas.

Under Jimmy Carters administration Houston's oil and gas economy boomed, under Reagan it crashed, so Democrats are not necessarily bad for oil and gas, and Republicans are not necessarily good. The oil and gas economy has not really thrived under Trump and did OK under Obama, Dubya Bush is really the only Republican since Nixon that oversaw a really thriving oil and gas sector...

IT HAS TO do with supply and demand,back then we dont produce as much,now we have Russia,Canada,Saudi,Iran,Iraq,Nigeria and until recently Venezuela