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Is President Biden About to Cripple Big Oil?

Written by Jeff Siegel
Posted July 21, 2022

With the stroke of a pen, President Biden could single-handedly gut the U.S. oil industry.

And some believe that’s what he’s about to do.

After Sen. Joe Manchin announced he wouldn’t vote for a bill that addresses climate change, environmentalists, scientists, and policy leaders are calling for the president to declare a climate change national emergency.

What does that mean?

It means that this would give Biden the ability to use executive powers to do everything from funding new clean energy projects in low-income communities to building out a nationwide network of electric car charging stations.

This is really low-hanging fruit, though, and wouldn’t likely get much pushback.

But there’s something else Biden could do that would garner a lot of pushback as it would have massive repercussions on the U.S. oil industry. 

According to Jean Su, senior attorney at the Center for Biological Diversity, Biden could use his executive powers to begin a complete phaseout of all fossil fuel imports and exports.

Think about that for a moment…

A complete phaseout of all fossil fuel imports and exports.

Such an executive order would absolutely gut U.S. oil companies and essentially instigate the final blow to Big Oil.

This is a very big deal and one you shouldn’t take lightly — if it were even a possibility.

But it’s not.

While I sympathize with climate leaders, you can rest assured that Biden will never take it to that extreme.

 

First, given high gas prices and the call for the administration to do more to lower those prices, the last thing he’s going to do is pressure the oil machine.

And even if he wanted to, he could never make it stick. 

Make no mistake, the mere mention of such a thing would serve as a launchpad for dozens of lawsuits from oil companies and dozens of procedural roadblocks from Republicans.

Even if he really wanted to do this, which I don’t think he does, he couldn’t.

That being said, it is becoming increasingly clear that pressure from climate leaders, many of whom also have very deep pockets, have an influence on the White House. Just the fact that the president of the United States is considering a climate change national emergency is all the proof you need.

And while there’s no way in hell Biden is going to gut the U.S. oil industry, he is going to use his power to get more renewable energy deployed throughout the country — and solar is likely to get the lion’s share of the attention from the White House.

This is one of the many reasons I’ve been telling you to stake your claim now in the best-in-breed solar technologies that are at the forefront of this expansion of clean energy integration.

My favorite right now is a new technology that integrates nanoscale solar cells into a sort of “solar spray” that can be integrated into windows and even be sprayed like paint onto the walls and roofs of any structure.

Fully deployed, this solar spray could turn every house, skyscraper, hospital, stadium, and school into its own "power plant" capable of generating its own endless clean electricity 24 hours a day, seven days a week.

This isn’t just an idea, either. This technology is actively being developed and deployed right now. And if you don’t believe it, just check out the pictures for yourself

Bottom line: Biden is about to make some moves on his climate agenda. Solar is going to benefit tremendously from this, but only the most advanced solar technologies are going to give you the most bang for your buck.

And that’s why I’m so bullish on this new solar spray.

This technology completely changes the game, and there will be a lot of money to be made as it comes to market.

Might as well make it.

To a new way of life and a new generation of wealth...

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Jeff Siegel

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Jeff is the founder and managing editor of Green Chip Stocks. For more on Jeff, go to his editor's page.

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