(National Sentinel) Sanity: Without question, President Obama and his administration were the biggest enemies of the fossil fuel industry in the history of our country.
Never mind that fossil fuels (along with innovation) were responsible for transforming the United States into the world’s leading economic power. Obama was dead-set on destroying the industry in lieu of some ‘clean energy’ nirvana that is decades away from reality, given the pace of technological development in that industry.
In an interview with reporters and editors of the San Francisco Chronicle, the eventual president said anyone who wanted to build a new coal-fired power plant could, but because of the regulations and additional costs he would put in place, it would “bankrupt” them.
Obama did nearly bankrupt the coal industry even as he hampered development in other areas of fossil fuel discovery, recovery, and production.
But things are different today.
POTUS Donald Trump’s administration has not only begun to dismantle Obama-era regulations that nearly destroyed an entire industry, it is also dialing back harmful regulatory actions aimed that were begun under the unproven claim that “climate change” is caused by human activities.
The Western Journal reported:
The Trump administration has dropped a two-year investigation into how Exxon Mobil Corp. factors climate-change regulations into its calculations of the value of its assets, the company said Friday.
The Securities and Exchange Commission informed the energy giant in a letter dated Thursday that it would not recommend an enforcement action against the company at this time.
Exxon Mobil cooperated with the inquiry, producing more than 4.2 million pages of documents, company spokesman Scott Silvestri said.
“After a thorough investigation, including a review of these documents, the SEC issued its closure letter,” he said.
Silvestri added that Exxon Mobil is confident its financial reporting meets all legal and accounting requirements.
That doesn’t mean that Exxon-Mobil is completely out of the woods. Additional investigations remain in place by far-Left attorneys general in deep blue states who are wasting taxpayer money pursuing politically motivated court actions, claiming that the oil giant ‘knew’ its operations were causing “climate change” but hid that knowledge from the public.
In March a federal court dismissed Exxon-Mobil’s claims that New York and Massachusetts were acting in bad faith in launching their investigations.
“Our investigation remains ongoing,” said Amy Spitalnick, a spokeswoman for New York Attorney General Barbara Underwood. “We’re gratified that multiple courts have now rejected Exxon’s arguments regarding our investigation — fully dismissing Exxon’s lawsuit against our office, and ordering Exxon and its accounting firm to produce the documents we subpoenaed.”
But as the SEC decision proves, there is no evidence to suggest the company is ‘hiding’ anything. After handing over 4.2 million documents, someone in government would have found something wrong by now if it had occurred.
Another plus from the Trump administration: The SEC’s finding was handed down the same day the White House announced it was abandoning ridiculous and expensive Obama-era fuel mileage standards.
California, where standards are even more insane than what Obama proposed, promised to sue.