Continental Resources founder and chairman Harold Hamm recently appeared on Fox Business’s “Mornings with Maria,” hosted by Maria Bartiromo. During the segment, Hamm fervently criticized President Biden’s clean energy agenda, arguing that it undermines U.S. energy independence and national security. This discussion highlights the ongoing debate over energy policies and their impact on the American economy and global energy markets.
Rising Energy Prices Under Biden
Bartiromo began the segment by noting the significant increase in oil and gas prices since President Biden took office. She pointed out that oil prices have surged by more than 51%, and gasoline prices have increased by over 46%. These soaring prices have been a focal point at the Republican National Convention (RNC), where several speakers criticized the Biden administration’s energy policies.
Harold Hamm’s Reaction
Hamm joined Bartiromo to share his thoughts on the current energy landscape. He stressed the importance of a robust energy policy for national security and criticized the Biden administration for its regulatory approach, which he claimed is detrimental to the fossil fuel industry. Hamm argued that the administration’s efforts to phase out fossil fuels have made it exceedingly difficult for energy producers.
The Impact of Regulations
Bartiromo asked Hamm to elaborate on the specific regulations affecting his company. Hamm explained that the administration has implemented numerous rules aimed at curbing production growth in the energy sector. He highlighted the significant impact of removing federal lands from the leasing and permitting process, which he said constitutes about 35% of the country’s productive capacity.
Comparing Trump and Biden’s Energy Policies
The conversation shifted to comparing the energy policies of former President Donald Trump and President Biden. Hamm praised Trump’s pro-energy stance, noting that his administration fostered the development of oil and gas resources, contributing to America’s energy renaissance. He contrasted this with the current administration’s approach, which he described as “daylight and dark” in comparison.
J.D. Vance’s Perspective
Bartiromo played a clip of J.D. Vance, who has been selected as Trump’s running mate, discussing American energy independence. Vance emphasized the potential for the U.S. to achieve energy dominance, criticizing Biden for preferring to buy energy from foreign adversaries like Iran and Venezuela instead of domestic producers. Hamm supported Vance’s stance, acknowledging the significant energy resources in states like Ohio and Pennsylvania.
The Path to Energy Independence
Bartiromo questioned how long it would take for the U.S. to regain energy independence. Hamm stated that reversing executive orders related to energy production could be done relatively quickly, but achieving substantial production increases would take time, approximately six months to a year. He emphasized the importance of long-term projects and consistent policies to ensure energy stability.
Global Implications of U.S. Energy Policies
The discussion also touched on the global implications of U.S. energy policies. Hamm argued that increasing American energy production could significantly impact adversaries like Iran and Russia. He criticized Biden for seeking oil from foreign countries instead of supporting domestic producers, calling the approach “absurd.”
Inflation and Energy Costs
Bartiromo asked Hamm about the reasons behind the skyrocketing inflation under Biden’s administration. Hamm attributed it to excessive government spending, particularly on initiatives like electric vehicles. He noted that the energy sector has faced substantial inflation, with costs rising by 20-25%.
Clean Energy and Emissions
The conversation concluded with a discussion on clean energy. Hamm acknowledged that under Trump, emissions were reduced by over 40% through efficient energy production practices. He argued that the current administration’s policies are not aligned with effective strategies for reducing emissions and criticized them for being counterproductive.
“Numbers Don’t Lie”
People in the comments shared their thoughts: “The numbers don’t lie.Unlike our current Administration”
Another commenter added: “How does he spend so much money when Congress is supposed to control the purse strings?”
One person said: “instead of using US firms he choose foreign ones? maybe his family also had ‘consulting’ deals with those countries…”
Deep Divisions
Harold Hamm’s critique of Biden’s clean energy agenda on “Mornings with Maria” underscores the deep divisions over energy policy in the United States. His comments reflect the concerns of many in the fossil fuel industry about the regulatory and economic impacts of the current administration’s approach. As the debate continues, the balance between environmental goals and energy independence remains a critical issue for policymakers and industry leaders.
Energy Independence
What are your thoughts? How can the U.S. achieve a balance between maintaining energy independence and transitioning to clean energy sources? What are the long-term effects of stringent energy regulations on the American economy and global energy markets? How do U.S. energy policies influence the geopolitical landscape, particularly regarding relations with countries like Iran and Russia?
See the full video on Fox Business’ YouTube channel for more details here.
