U.S. Vice President Kamala Harris is reportedly aware that banning fracking could lead to increased natural gas prices, according to industry executives speaking at the GasTech conference in Houston. This acknowledgment has bolstered confidence among energy leaders that she will not pursue a ban on fracking if elected president.
Fracking, a critical industry in Pennsylvania, has become a focal point in the presidential campaign. While Harris previously opposed fracking during her tenure as a senator from California, she has since stated she would not ban it on federal lands. “I was the tie-breaking vote on the Inflation Reduction Act, which opened new leases for fracking,” Harris noted, emphasizing the need to invest in diverse energy sources.
Industry leaders like Lorenzo Simonelli, CEO of Baker Hughes, expressed optimism about Harris’s evolving stance, while Jack Fusco, CEO of Cheniere Energy, highlighted the economic necessity of fracking to keep natural gas prices manageable. Meg O’Neill, CEO of Woodside, warned that halting fracking would have dire consequences for the economy.
As both Harris and former President Donald Trump campaign vigorously in Pennsylvania, energy executives are urging the Biden administration to ease restrictions on liquefied natural gas (LNG) exports, which have been paused for environmental review.