Fact Check: Will Joe Biden's Environmental Plan Ruin Oil Industry?

Democratic presidential nominee Joe Biden has continually stated that if he is elected president, he will trust science, not fiction. During the final presidential debate on October 22, Biden said, "We have a moral obligation to deal with it," referring to climate change.

Biden's clean energy plan is a "$2 trillion plan to boost investment in clean energy and stop all climate-damaging emissions from the U.S. economy by 2050," according to CNBC.

The Claim

During the debate, President Donald Trump claimed that Biden's environmental plan would ruin the oil industry.

"Basically what he is saying is he is going to destroy the oil industry," Trump said. "Will you remember that, Texas? Will you remember that, Pennsylvania? Oklahoma? Ohio?"

The Facts

When Trump asked Biden if he would "close down the oil industry?" Biden replied, "Yes. I would transition, because the oil industry pollutes, significantly. It has to be replaced by renewable energy over time." Biden emphasized that the transition would occur over time and that he would stop giving the industry federal subsidies.

Later, Biden clarified his comments stating, "We're not going to get rid of fossil fuels, we're going to get rid of subsidies for fossil fuels."

Biden's plan for clean energy expands over three decades and involves achieving "...a 100% clean energy economy and net-zero emissions no later than 2050," according to joebiden.com. This includes transitioning away from fossil fuels.

Trump also has accused Biden of wanting to ban fracking, a technique to extract natural gasses. Kamala Harris, Biden's running mate, defended Biden while campaigning in Atlanta last week.

"Let's be clear: What Joe was talking about was banning subsidies, but he will not ban fracking in America," Harris said.

Biden previously said he will ban fracking only on federal lands, but that is not where the majority of gas and oil is found.

"We're not getting rid of fossil fuels," Biden said after the debate. "We're getting rid of the subsidies for fossil fuels, but we're not getting rid of fossil fuels for a long time."

Biden's clean energy plan might hurt his campaign in major oil and gas states, such as Pennsylvania and Texas. On a recent appearance on Pod Save America, Biden said, "It's going to create millions of jobs ... We can't be cavalier about the impact it's going to have on how we're going to transition to do all this," referring to his clean energy plan. "But I just think it's a gigantic opportunity, a gigantic opportunity to create really good jobs."

During the podcast, Biden also stated that he will not "discount the concerns" of those who could lose their jobs during the transition to clean energy.

The Ruling

Partially True. Although Biden eventually wants to switch the U.S. to 100 percent clean energy, his plan will take place gradually over three decades.

Fracking Pennsylvania
A hydro-fracking drilling pad for oil and gas operates on October 26, 2017, in Robinson Township, Pennsylvania. Robert Nickelsberg/Getty