The Biden administration’s hostility towards domestic oil and gas has reached alarming levels, with a recent report from the Institute for Energy Research documenting over 200 actions taken to undermine U.S. energy production since the president took office.
From canceling pipeline projects and drilling leases to proposing punishing tax hikes, this administration appears determined to cripple an industry that is vital to our economy and national security.
As Sen. John Barrasso and other Republican lawmakers warned in a letter to Treasury Secretary Janet Yellen, these policies “threaten American families’ access to affordable and reliable energy while giving our adversaries the upper hand in global energy markets.”
The timing could hardly be worse, with Russia’s invasion of Ukraine underscoring the geopolitical importance of American energy leadership.
The Biden administration’s decision to deplete the Strategic Petroleum Reserve by roughly half for seemingly political reasons, while failing to take advantage of lower pandemic-era prices to restock it, is just one more data point highlighting this White House’s fundamentally misguided approach.
Nicolas Maduro is on track to make $20 billion selling Venezuela’s oil and gas—because Pres. Biden lifted the sanctions on Maduro’s regime.
The Biden admin would rather let dictators pump their oil than allow America to use our own energy resources. pic.twitter.com/sB0U20WZfp
— John Kennedy (@SenJohnKennedy) April 10, 2024
“Like many other politically driven decisions from this administration that distort energy markets, the government will have to spend more taxpayer money than if it had rational energy policies,” noted Western Energy Alliance President Kathleen Sgamma.
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Despite the hostile climate at the federal level, oil and gas producing states like Texas continue to demonstrate the vital importance of this industry.
In 2023, Texas generated a record 1.99 billion barrels of oil and 12.2 trillion cubic feet of gas, according to the Texas Independent Producers & Royalty Owners Association. Texas LNG exports also threw a crucial lifeline to European allies after Russia’s invasion of Ukraine cut off much of the continent’s energy supply.
“With so much uncertainty in the world, the need for reliable, responsibly produced energy from a stable trading partner has never been more crucial,” said Texas Oil & Gas Association President Todd Staples. “Texas is that trade partner.”
But as Staples points out, this progress is fragile in the face of an antagonistic White House.
The hardworking men & women of the Texas energy industry are the backbone of our booming economy.
Our oil & gas industry supports over 1.4 MILLION jobs in Texas.
Yet the Biden Admin constantly attacks this vital industry.
Texas will always defend our energy industry. pic.twitter.com/ISwTHCaFHV
— Greg Abbott (@GregAbbott_TX) April 11, 2024
“We cannot take for granted that this industry can continue to rewrite its record book in the face of federal policies blatantly designed to undermine progress,” he warned.
The Biden administration’s actions appear increasingly driven by an ideological crusade to accelerate a transition to green energy at any cost, even if it means sacrificing American jobs, economic growth, and geopolitical standing in the process.
Voters should keep this in mind when they head to the polls in November.
If the Biden administration is allowed to continue its assault on domestic oil and gas producers, the consequences for our country could be dire and long-lasting.
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It’s time to stand up for American energy security with leaders who won’t actively undermine one of our nation’s core strengths.
