Biden’s environmental agenda could cost 1 million U.S. jobs: economics expert

Macchiarola serves as senior vice president of Policy, Economics and Regulatory Affairs at the American Petroleum Institute (API). Breitbart's Matt Boyle asked Macchiarola about the implications of Biden's revoking of the permit for the Keystone XL Pipeline and 60 day pause on federal land leasing.

"I think the first four days of the Biden Administration have given a clear picture of what the next four years could look like," he said.

"President Biden comes into office with a real economic headwind and a difficult labor market but at the same time he inherited an energy [landscape] that’s stronger because of America’s shale revolution," he continued.

The Keystone Pipeline project was supposed to provide 11,000 American jobs directly, and tens of thousands of more indirectly, according to a press release from several lawmakers who say they will introduce legislation to keep the Keystone Pipeline project going.

"Keystone XL Pipeline is expected to provide approximately 11,000 direct high-paying jobs and up to 60,000 indirect and direct jobs, generate tax revenue, increase renewable-energy demand, reduce emissions and strengthen North American energy independence," the press release said.

Macchiarola predicts the number of lost jobs will be staggeringly higher, relating to Biden's ban of development on federal land.

"The full scale ban of development on federal lands you can bet the impact could be up to a million jobs in the United States," he told Breitbart.