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Accusing US President Barack Obama and Hillary Clinton of destroying millions of jobs through their anti-energy regulations, Republican presidential nominee Donald Trump promised to unleash an energy revolution that will bring vast new wealth to the US.
"A Trump Administration will end this war on the American worker, and unleash an energy revolution that will bring vast new wealth to our country," Trump said in a major economic policy speech in Detroit.
According to the Institute for Energy Research, lifting the restrictions on all sources of American energy will increase GDP by more than $100 billion annually, add over 500,000 new jobs annually and increase annual wages by more than $30 billion over the next seven years, he said.
It would increase federal, state and local tax revenues by almost $6 trillion dollars over four decades and increase total economic activity by more than $20 trillion over the next 40 years, he said.
Trump said as a result of recent Obama EPA actions coal-fired power plants across Michigan have either shut down entirely or undergone expensive conversions.
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The Obama-Clinton war on coal has cost Michigan over 50,000 jobs.
Hillary Clinton says her plan will "put a lot of coal companies and coal miners out of business".
"We will put our coal miners and steel workers back to work. Clinton not only embraces President Obama's job-killing energy restrictions but wants to expand them, including going after oil and natural gas production that employs some 10 million Americans," Trump said.
According to the Heritage Foundation, by 2030, the Obama- Clinton energy restrictions will eliminate another half a million manufacturing jobs, reduce economic output by $2.5 trillion and reduce incomes by $7,000 per person, he said.
Trump said the Republican party has chosen to make new history by selecting a nominee from outside the rigged and corrupt system.
"The other party has reached backwards into the past to choose a nominee from yesterday — who offers only the rhetoric of yesterday, and the policies of yesterday," he said.
"There will be no change under Hillary Clinton — only four more years of Obama. But we are going to look boldly into the future. We will build the next generation of roads, bridges, railways, tunnels, sea ports and airports that our country deserves," he said amidst applause.
Trump said his is the "campaign of the future" and that of Clinton's is of the past.
"She supports the high taxes and radical regulation that forced jobs out of your community...And the crime policies that have made you less safe...And the immigration policies that have strained local budgets..And the trade deals like NAFTA, signed by her husband, that have shipped your jobs to Mexico and other countries," Trump said.
