Oil pump(1000)

Cruz says proposal to end fracking 'would cost 14 million jobs nationally'

ORGANIZATIONS IN THIS STORY

Sen. Ted Cruz, R-Texas, said in a video on Tuesday that Sen. Bernie Sanders, I-Vt., and Rep. Alexandria Ocasio-Cortez’s, D-N.Y., fracking ban legislation would ruin the economy. 

The video was released after the new legislation was announced by Sanders, Ocasio-Cortez and Sen. Jeff Merkley (D-Ore). The legislation would ban fracking across the nation.

“Policies to ban fracking would cost 14 million jobs nationally and in the state of Texas would cost one and a half million jobs,” Cruz said in the video. “It is hard to find something that would be more economically devastating.”

Banning fracking would also raise energy prices and increase the need for foreign energy, Cruz said.

Cruz’s video also showed Sen. Elizabeth Warren, D-Mass., talking about climate change. Warren said there won’t be any cars by 2030 and by 2035 there won’t be electricity production. 

“The political leaders who are advocating for this are also advocating for massive government control of the economy and socialism,” Cruz said. “Climate is a good excuse to say, ‘You’ve got to have socialism, or else humanity is going to die.’”

The U.S. is the top producer of natural gas. Last year, fracking in the U.S. reduced carbon emissions more than the Paris climate accord, Cruz said. 

“Nothing – no socialist regulator, no Paris deal – nothing has had anywhere close to having an impact on carbon emissions as has a Texas oil man innovating fracking and moving away from coal to natural gas,” Cruz said in September, according to a press release. “I think that’s how we should address the environment through innovation that also produces jobs.”

ORGANIZATIONS IN THIS STORY