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U.S. Treasury has borrowed $155 billion every month of this fiscal year—and is now paying $24 billion a week in interest on its debts

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Billionaire MacKenzie Scott just donated $20 million to support America’s youth mental health, as a fifth of teens struggle with suicidal thoughts
PoliticsU.S. Presidential Election

Kamala Harris reverses earlier anti-fracking stance and no longer supports a ban

By
Ari Natter
Ari Natter
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Bloomberg
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Ari Natter
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Bloomberg
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July 27, 2024, 11:18 AM ET
Kamala Harris speaks at podium
Vice President Kamala Harris at a campaign rally in Wisconsin on July 23.Jim Vondruska—Getty Images
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Vice President Kamala Harris’ campaign said she doesn’t support a ban on fracking, reversing a stance she took on the hot-button oil and gas extraction technique as a presidential candidate in 2019. 

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Harris’ previous anti-fracking position has emerged as a talking point for Republicans as they focus on the presumptive Democratic presidential nominee. Clips of her past remarks are appearing in campaign ads in the battleground state of Pennsylvania — a prolific natural gas producer.

Former President Donald Trump brought up the issue during a campaign rally in North Carolina this week, telling supporters Harris “publicly boasted, ‘There is no question I’m in favor of banning fracking.’ She wants no fracking and it pertains to your wallet because you’re going to be paying a lot of money.”

Harris campaign spokeswoman Lauren Hitt pushed back, saying the Biden-Harris administration had created 300,000 jobs in the energy sector and that Trump’s claims about fracking bans are “false.” She cited climate change legislation passed under President Joe Biden and said the US domestic energy production is at an all-time high.  

Fracking, also known as hydraulic fracturing, involves pumping water, sand and chemicals underground to free oil and gas from dense rock formations, and is used to coax oil and gas out of roughly 95% of U.S. wells. It has drawn opposition from environmental groups concerned about ground-water contamination and opposed to fossil fuels.

Asked in 2019 during a CNN presidential candidate forum if she would commit to a ban on fracking during her first day in office, Harris said to applause: “There’s no question I’m in favor of banning fracking.”

“And starting with day one what we can do on public lands,” Harris continued, “and then there has to be legislation.” 

While there are several ways Harris, if elected president, could halt fracking on federal lands using executive power, she wouldn’t be able to unilaterally ban it on private land. Under a 2005 law, the Environmental Protection Agency has almost no regulatory power over fracking. Changing that would require an act of Congress.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
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