The topic of energy policy did come up during the first presidential debate between Democratic presidential candidate Hillary Clinton and Republican presidential candidate Donald Trump but energy policy and U.S. energy independence was not a major focus of the debate. Continental Resources (NYSE:CLR) CEO Harold Hamm weighed in what was discussed and his concerns over Hillary Clintonâ€™s energy plan.
â€œLetâ€™s talk about her [Hillary Clinton] energy plan. This is no surprise to anybody. She wants to come out with a solar energy plan thatâ€™s 500 million solar panels, okay? Letâ€™s look first of all [at] where those are made. Theyâ€™re not made here in the U.S. So all these jobs she is going to create is going somewhere else. And the primary place they are going is to China who builds 56% of them, 75% of them is made outside the U.S. The cost of this is $205 billion,â€ Hamm told the FOX Business Networkâ€™s Stuart Varney.
Hamm had a theory for what is driving solar panel production overseas.
â€œThe reason they are located somewhere else, they donâ€™t have the largest gas field in the world, Marcellus and Utica Shale, they donâ€™t have that. Thatâ€™s being developed in America.â€
When Varney asked, â€œAre you saying that Hillary Clinton has a totally un-workable energy plan?â€
â€œYes, in fact Iâ€™m calling it silly. You know, itâ€™s the silliest thing youâ€™ve ever heard of. That weâ€™re gonna, weâ€™re trading good American jobs here in the U.S., high-paid jobs, for those in China, Japan and around the world cause weâ€™re not creating those solar panels here. Weâ€™ve been outbid by all these foreign countries for all the solar panels, okay, because they need them.â€
According to Hamm fossil fuels will continue to be a part of U.S. energy policy for the foreseeable future.
â€œWeâ€™re going to be as part of transportation fuels. I donâ€™t see solar panels on her new airplane that sheâ€™s flying around, I donâ€™t see solar panels on these 18-wheelers going down the road. Weâ€™re going to be for transportation fuels for the next 50 years."