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Rep. Elise Stefanik, Chairwoman
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Press Releases

Gas Prices Skyrocket 45% Under Joe Biden’s Watch

Washington, April 8, 2024
  • A known terrorist who attempted to enter the United States illegally through our wide open Southern Border was subsequently r
The average price for gas has spiked 45% under Joe Biden’s failed Far Left anti-American energy agenda. 
 
MAKE NO MISTAKE: Biden's war on American energy has had catastrophic results and hardworking Americans are the ones feeling the brunt of it at the pump.
 
BIDEN’S ENERGY CRISIS BY THE NUMBERS:
  • In March 2024, Joe Biden’s EPA announced new vehicle regulations that amount to a de facto gas vehicle ban, covering light-duty and medium-duty vehicles for model years 2027-2032.
    • Last year, gas cars accounted for 92% of U.S. vehicle sales, while less than 8% were electric. More than a third of EV sales occurred in California. 
    • 75% of U.S. registered voters oppose government policies that would ban new gasoline, diesel and traditional hybrid vehicles, including 80% of Independent voters and 56% of Democrats.
    • Compliance with the new regulations will require a more than 600% increase in EV sales over a period of 8 years.
  • In January 2024, the Biden Administration announced they paused all pending non-FTA export permit applications for liquified natural gas(LNG) export projects, empowering countries like Russia and Iran while hurting our allies who depend on U.S. energy. 
  • The Biden Administration is kowtowing to environmentalists by having his Department of Energy undertake a review of LNG export terminals and the climate considerations for their approval.
  • By cutting off exports from the United States, Biden is pushing our allies, including the European Union and other countries, to dirtier sources.
  • Since 2012, the Energy Department commissioned three studies on the impact of gas exports focusing on the economics of the trade. Those previous reviews had consistently found gas exports benefited the public.
  • The Biden Administration has continually passed the buck by blaming domestic energy producers: 
    • Biden’s regulatory assault destroys ANY incentive for domestic energy producers to invest, and it worsens energy market volatility. 
    • Most recently, Biden announced that his Administration would no longer hold court-ordered offshore oil and gas lease sales in the Gulf of Mexico and Alaska.
  • On day one of Joe Biden’s presidency, he launched his war on American energy when he killed the Keystone XL pipeline, which could be supplying 830,000 thousand barrels of oil from Canada to U.S. refineries.
  • In March 2020, President Trump directed the Department of Energy to purchase 30 million barrels to begin filling the Strategic Petroleum Reserve (SPR).
  • Biden is responsible for the largest-ever loan from our SPR of 180 million barrels of oil over six months.
  • Joe Biden sold nearly 40 percent of our stockpile since being elected—more than EVERY U.S. President in history COMBINED.  
    •  The SPR is meant for weather or national security emergencies not political expediency. 
  • Biden has depleted our Strategic Petroleum Reserve by over 40%,bringing it to its lowest levels since the early 1980s.  
  • Since Biden took office, his Administration and Congressional Democrats have taken over 200 actions deliberately designed to make it harder to produce energy here in America. 
MAKE NO MISTAKE: House Republicans know that energy security is national security and that Americans have had enough of Biden's failed Far Left anti-American energy agenda and the pain it has caused. That is why House Republicans continue to fight back against Biden's war on American energy with legislation that unleashes American energy dominance and eliminates the need to rely on foreign adversaries for vital resources.