During Wednesday's GOP presidential debate, moderator Lester Holt questioned Senator Tim Scott of South Carolina about his plans to tackle the cost of living for Americans. Senator Scott responded by advocating for the construction of the Keystone Pipeline and emphasized his aim for the nation to achieve not merely energy independence but to become energy dominant. Holt's attempt at an immediate fact-check did not hold up when Scott addressed his remarks.
“America is the home to more energy resources than any other country on the planet. We can reduce the price of energy, we can reduce the price of food and the price of electricity if we focus on my ‘build here, don’t borrow from China’ plan that is embedded the made in America strategy creates 10 million new jobs in three different areas. One is innovation. Second is the high tech manufacturing. And the third is the energy economy. We have an opportunity as Americans to actually export the surplus energy that we create in our nation and disconnect from China and from murderous dictators and tyrants.”
“Your time is up but let me just follow up, the idea of pumping gas, of turning on pipelines, that doesn’t make gas cheaper that day,” Holt said. “I’m talking about when you become president what can you do specifically to help people feel better about their situation, or be better with their situation.”
“Well actually it does, to be honest with you,” Scott fired back.
“The way that the economy works is that it works on the ability to anticipate excess supply verses the demand, when that happens, confidence drives our prices down, because we know there’s going to a greater surplus.”
Senator Tim Scott contended that the U.S. is inextricably reliant on China for energy resources, stressing the necessity for the U.S. to regain energy self-sufficiency.
Multiple energy corporations have criticized President Joe Biden for his comprehensive policies on climate change. An unnamed survey conducted quarterly by the Federal Reserve Bank of Dallas, which gathered insights from over 100 energy companies, revealed their unease with the current business climate. The companies' primary concerns were the stringent environmental policies under Biden's climate agenda, restrictive usage policies for federal lands, a declining investment climate, and apprehension that the administration is not fully acknowledging the ongoing demand for fossil fuels.