Trump: Lifting Energy Restrictions to Give US $20Trln Boost Over 40 Years

WASHINGTON (Sputnik) — Abolishing restrictions on domestic energy production would create half a million new jobs a year and expand the US economy by $20 trillion over the next 40 years, Republican presidential candidate Donald Trump said on Monday.

“Lifting the restrictions on all sources of American energy will…increase total economic activity by more than $20 trillion dollars over the next 40 years,” Trump said in a speech to the Detroit Economic Club.

Ending what he has criticized as highly restrictive federal regulatory policies would increase US GDP by more than $100 billion dollars per year, add over 500,000 new jobs per year and increase annual wages by more than $30 billion dollars over the next seven years, Trump added, citing the Institute for Energy Research.

Such policies would also “increase federal, state, and local tax revenues by almost $6 trillion dollars over 4 decades,” he stated.

Trump also promised to end what he called “the Obama-Clinton war on coal” and remove the restrictive regulations the US president has placed on using coal-powered plants to produce electricity.