Executive Order 14008 & the Devastating Potential Impact on Farming

Dec 5, 2022 | Finconomics 101, No Bull Economics

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Event: Executive Order 14008 Signed 1/27/21

Conclusion: The administration’s plan to restructure the country by 2030 is set out clearly in an executive order signed by President Biden upon taking office in January 2021. Key elements of this order include: a pause of issuing new oil & natural gas leases on public lands or in offshore waters; the creation of millions of new union jobs to build a new American infrastructure & clean energy economy; a goal of conserving at least 30% of our lands and waters by 2030; ensuring that environmental & economic justice are key considerations in how we govern; and a goal that 40% of the overall benefit of these efforts flow to disadvantaged communities.

Notably, the goal of idling at least 30% of the country’s lands & waters will make the government the largest landowner (ever bigger than Bill Gates), squeezing farmland availability and traditional food production (consistent with the Netherlands’ decision to close between 2,000 – 3,000 farms & other large nitrogen emitters by 2030 which they will purchase for $25B at prices “well over” their property values).

Key Points of the Order: The United States and the world face a profound climate crisis. We have a narrow moment to pursue action at home and abroad in order to avoid the most catastrophic impacts of that crisis and to seize the opportunity that tackling climate change presents. We must listen to science—and act. We must strengthen our clean air and water protection. We must hold polluters accountable for their actions. We must deliver environmental justice in communities all across America. Together, we must combat the climate crisis with a bold, progressive action that combines the full capacity of the Federal Government with efforts from every corner of our Nation, every level of government, and every sector of our economy.
 
By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered as follows:
 
Sec. 208. Oil and Natural Gas Development on Public Lands and in Offshore Waters. To the extent consistent with applicable law, the Secretary of the Interior shall pause new oil and natural gas leases on public lands or in offshore waters pending completion of a comprehensive review and reconsideration of Federal oil and gas permitting and leasing practices in light of the Secretary of the Interior’s broad stewardship responsibilities over the public lands and in offshore waters, including potential climate and other impacts associated with oil and gas activities on public lands or in offshore waters. The Secretary of the Interior shall consider whether to adjust royalties associated with coal, oil, and gas resources extracted from public lands and offshore waters or take other appropriate action, to account for corresponding climate costs.
 
Sec. 212. Policy. This Nation needs millions of construction, manufacturing, engineering, and skilled-trades workers to build a new American infrastructure and clean energy economy. Such jobs will bring opportunity to communities too often left behind—places that have suffered as a result of economic shifts and places that have suffered the most from persistent pollution, including low-income rural and urban communities, communities of color, and Native communities.
 
Sec. 216. Conserving Our Nation’s Lands and Waters. (a) The Secretary of the Interior, in consultation with the Secretary of Agriculture, the Secretary of Commerce, the Chair of the Council on Environmental Quality, and the heads of other relevant agencies, shall submit a report to the Task Force within 90 days of the date of this order recommending steps that the United States should take, working with State, local, Tribal, and territorial governments, agricultural and forest landowners, fishermen, and other key stakeholders, to achieve the goal of conserving at least 30 percent of our lands and waters by 2030.

Sec. 219. Policy. To secure an equitable economic future, the United States must ensure that environmental and economic justice are key considerations in how we govern. It is therefore the policy of my Administration to secure environmental justice and spur economic opportunity for disadvantaged communities that have been historically marginalized and overburdened by pollution and underinvestment in housing, transportation, water and wastewater infrastructure, and health care.
 
Sec. 223. Justice40 Initiative. (a) Within 120 days of the date of this order, the Chair of the Council on Environmental Quality, the Director of the Office of Management and Budget, and the National Climate Advisor, in consultation with the Advisory Council, shall jointly publish recommendations on how certain Federal investments might be made toward a goal that 40% of the overall benefits flow to disadvantaged communities. The recommendations shall focus on investments in the areas of clean energy and energy efficiency; clean transit; affordable and sustainable housing; training and workforce development; the remediation and reduction of legacy pollution; and the development of critical clean water infrastructure. The recommendations shall reflect existing authorities the agencies may possess for achieving the 40% goal as well as recommendations on any legislation needed to achieve the 40% goal.
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