A controversial Democrat who wants to be the next president confirmed he would phase out one of the nation’s most lucrative industries and stop certain mineral exploration methods.

Democratic presidential nominee Joe Biden has been caught admitting he would permanently end the U.S. oil industry because it releases carbon dioxide into the atmosphere.

“I would transition away from the oil industry,” he told the final 2020 presidential debate. “That is a big statement because the oil industry pollutes significantly.”

Biden claimed the federal government should stop giving concessions to oil producers because renewable energy companies are not receiving anything.

“It has to be replaced by renewable energy over time, over time,” he said. “I stopped giving to the oil industry federal subsidies. You do not give federal subsidies to solar and wind. Why do we give it to the oil industry?”

However, the Oval Office revealed this statement is incorrect because the federal government has previously granted federal subsidies to multiple renewable energy producers.

“We actually do give to solar and wind,” President Donald Trump said.

The president warned the Democratic Party’s policy to transition away from oil production would wipe out a sector worth about $181 billion according to 2018 data published on the Statistica website.

“Basically, what he is saying is he is going to destroy the oil industry,” he said. “If you want to kill the economy, get rid of your oil industry … will you remember that Texas, will you remember that Pennsylvania, Oklahoma, Ohio?”

The Democrat then tried to mislead voters that he would not prohibit resources companies from using hydraulic fracturing methods to extract underground oil and gas pockets more easily.

“I never said I opposed fracking, I did [not,] show the tape, put it on your website,” Biden said. “The fact of the matter is he [the president] is flat-out lying–I do rule out banning fracking because the answer [is] we need other industries to transition to get to only zero emissions by 2025.”

However, the president said he had a video to prove otherwise and shared it with his 87.3 million followers on social media.

The footage shows several televised interviews with Biden vowing to stop fracking on federal land, which would adversely impact on the Keystone State and other resource-rich jurisdictions.

“Excuse me! He was against fracking, he said it, I will show that to you tomorrow, [he is saying] ‘I am against fracking,'” the president said. “You know what, Pennsylvania. He will be against it very soon because his party is totally against it.”

After being confronted with the compelling evidence, Biden suddenly recalled he did promise to end fracking after all.

“Fracking on federal land, I said, no fracking and/or oil on federal land,” he said. “What I will do with fracking over time is make sure that we can capture the emissions from fracking, capture the emissions from gas.”