Biden Administration’s Anti-Energy Policies Are Fueling Inflation
‘Since Day One, the Biden Administration has been outright hostile to U.S. resource development, frozen certain new development leases, and cancelled a pipeline project that would have expanded efficient energy transport and created American jobs. The American people are bracing for a pricey summer, from the gas pump to the grocery store. And they know exactly who to blame.’
WASHINGTON, D.C. – U.S. Senate Republican Leader Mitch McConnell (R-KY) delivered the following remarks today on the Senate floor regarding energy policy:
“Tomorrow, President Biden will host the Major Economies Forum on Energy and Climate.
“Meanwhile, working Americans will continue to face the consequences of his disastrous energy and climate policies.
“While President Biden and his team have declared a holy war on America’s domestic production, average gas prices have soared to over $5. By August, they’re projected to hit $6.20.
“Diesel, which literally drives our economy, is at an all-time high.
“Natural gas is up 30.2%. Fuel oil is up 106.7%. Groceries, which overwhelmingly rely on diesel semis to get to supermarket shelves, are up nearly 12% compared to last year.
“These eye-popping numbers are the predictable results of Democrats’ inflationary policies and specifically their war on affordable American energy.
“Well, the American people continue to tell Democrats they’re not interested in buying fantastical green boondoggles when they can barely afford the essentials today.
“According to one recent poll, more than half of Americans are very or extremely concerned about how grocery prices are affecting their household’s financial situation. Nearly two thirds feel that way about gas prices.
“But Washington Democrats are still in staggering disarray over how – and even whether – to clean up the mess they’ve made.
“Some, like the Administration’s climate czar, John Kerry, are still in denial.
“He said recently, ‘We absolutely don’t,’ need to ramp up oil and gas production. Instead, he’s insisted, ‘we have to transition to electric vehicles about 20 times faster than we are now.’
“Americans continue to report that just affording gas has become a daily hardship, but the former Senator from Massachusetts says folks in places like Kentucky should just buy expensive electric cars.
“Now, some Administration officials are willing to acknowledge the problem – just not its source. The American people continue to hear about a so-called ‘Putin’s price hike’, even though gas was already up nearly 50% since President Biden took office when Russia launched its war.
“Some members of the President’s party seem more clear-eyed. Yesterday, one House Democrat said, ‘I’m calling on the President to sit down with domestic oil and gas companies to find a way to lower prices… The President needs to bring everyone together.’
“But unfortunately, the Biden Administration still appears to be jaw-droppingly naive about the consequences of its war on affordable domestic energy. As energy prices continued to skyrocket earlier this year, the White House reportedly insisted production could just be turned back on with the flip of a switch.
“According to one analyst, ‘they thought shale oil production could grow sharply in the near term — like in a matter of months or quarters .. They were shocked to learn that that’s like asking for blood from a stone.’
“Of course, Democrats’ misunderstanding hasn’t stopped them from trying to use American energy producers as a scapegoat.
“Yesterday, the White House Press Secretary insisted, ‘we have done our part… we need [oil companies] to act.’
“That doesn’t pass the laugh test.
“In a letter yesterday, one of America’s biggest domestic producers asked the Biden Administration for three things:
“‘Clear and consistent policy that supports U.S. resource development’, ‘regular and predictable lease sales', and 'support for infrastructure such as pipelines.’
“Notice, that is precisely a summary of what President Biden hasn’t been doing since he took office.
“Since Day One, the Biden Administration has been outright hostile to U.S. resource development, frozen certain new development leases, and cancelled a pipeline project that would have expanded efficient energy transport and created American jobs.
“The American people are bracing for a pricey summer, from the gas pump to the grocery store.
“And they know exactly who to blame.”
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Related Issues: Economy, Energy, Inflation, Green New Deal, House Democrats, Senate Democrats
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