Small business owners are increasingly pessimistic about U.S. economic conditions and overwhelmingly support an expansion of domestic fossil fuel infrastructure, the latest polling data showed.
Just 27% of small business owners agreed the economy was in “good” or “excellent” condition, according to a Job Creators Network Foundation poll released Friday and shared with The Daily Caller News Foundation. The figure represented the lowest rating of the current economic situation among small business owners since the group began the poll a year ago.
President Joe Biden’s budget proposes to scrap more than $45 billion in fossil fuel subsidies, his administration’s latest attack on the beleaguered industry.
The White House budget will remove more than a dozen fossil fuel industry tax credits, increasing the federal government’s revenue by an estimated $45.2 billion between 2023-2032, according to the proposal published Monday. The administration explained that the proposal was written to prevent further fossil fuel investment.
U.S. environmental policies pushed by the Biden administration and aimed at dramatically curbing domestic fossil fuel production have given Russian President Vladimir Putin more power on the world stage.
Since taking office, President Joe Biden has blocked domestic pipelines, ditched drilling projects, proposed sweeping regulations on the fossil fuel industry and attempted to ban oil and gas leases on federal lands while pledging to decarbonize the grid by 2035. But Biden has also turned to the Middle Eastern oil cartel the Organization of the Petroleum Exporting Countries (OPEC) and Russia, asking the countries to increase their production of oil and natural gas respectively.
Reuters Oil producer group OPEC on Monday scrapped its planned meeting in April and will decide instead whether to extend output cuts in June, once the market has assessed the impact of U.S. sanctions on Iran and the crisis in Venezuela. A ministerial panel of OPEC and its allies…