There are a lot of questions on climate change and anti-fracking bans. How will this affect us if president Trump wins? How does this affect the oil and gas industry? And of course, if Joe Biden wins, how does that affect the oil and gas industry? So we, we encourage you to call in all questions are welcome. Again, that phone number is (210) 308-8867. But before I bring the guys on, I’d like to talk to you about the latest issue of SHALE Magazine. And that’s because the cover is Jason Modglin, the President of Texas Alliance of Energy Producers. And we were really excited to catch up with him because he is a fairly new leader at the Texas Alliance, but he is certainly not a newbie. When we talk about oil and gas, he has served the majority of his career serving elected officials that have a lot of moving parts pertaining to oil and gas.
Well, I think it’s important that he (Trump) continues to emphasize American innovation and American jobs. Just some highlights from the announcement, it’s resulted in a 63% reduction in the price of gas. That’s resulted in economic output and benefit millions of jobs. Just a drop in energy prices that helps other industries and frankly, that helps American families. And so, I think that is the president’s main thrust and focus is to say, look, these are good things that are happening in our country, and we need to foster and encourage them, rather than roll out policies like the green new deal that would result in abandoning that innovation and allowing other competitors around the world to take advantage.
David, can I ask you, why do you think President Trump needed to sign an executive order just a few days before the election?
Well, I, you know, we’re, we’re in the middle of a presidential campaign. It’s good politics for one thing. Pennsylvania is the swing state in this election. I think the whole thing, frankly, is going to come down to that state. There are ways for President Trump to get to 270 electoral votes without Pennsylvania, but there’s no way for Mr. Biden to do so. Second, you know, is that hydraulic fracturing has been an incredible benefit to the American economy. Without hydraulic fracturing and the boom and shale production over the last decade economic growth in America would have been very anemic. And so it’s a big deal. It’s just a huge benefit for the country. It’s a huge benefit for us from an energy security perspective, from a world securities perspective, so that we don’t have any big incentive to intervene in more wars in the Middle East. You know, President Trump has been getting us out of those wars and getting peace deals signed between those countries in Israel. We don’t want to stop that. We want to keep that going. And the shale boom is a big enabler of all of that. He doesn’t talk about that part of it enough in my opinion, but it truly is. So I, you know, I just think this was a smart political move. It’s good for the country, and I’m really glad he did it