Biden’s Energy Crisis is Only Getting Worse as He Doubles Down on His War on American Energy

Gas prices have officially DOUBLED since Joe Biden took office. The national average for a gallon of gas has risen every single day for over two weeks—up 25 cents in just the last week, and up a shocking 59 cents in the last month. Ten states now have average prices at or above $5 a gallon.

Americans are suffering this historic pain at the pump as President Biden continues to beg Saudi Arabia to boost the global supply of oil, stifles America’s domestic energy production by halting new lease sales, and depletes our Strategic Petroleum Reserve.

Sadly, this is Joe Biden’s America.

BIDEN’S ENERGY CRISIS BY THE NUMBERS:

  • Gas prices under Joe Biden have been historic.
  • The national average for a gallon of gas is $4.91 as of Tuesday.
    • This is another all-time high.
    • Diesel prices have skyrocketed 75% in just one year.
    • Economists are projecting that the average national retail price for a gallon of regular gasoline will surpass $6 a gallon by August.
  • A new report shows Americans will spend $5,000 this year on gas, a 78% increase from the $2,800 Americans spent a year ago.
  • President Biden has continued to recklessly deplete the Strategic Petroleum Reserve (SPR), which is meant for war or major weather events, for his political benefit. Now, the SPR is at its lowest point since 1987.
  • Americans are smart. They know this is Biden’s Price Hike – no one-else’s.

BIDEN’S ANTI-ENERGY AGENDA:

  • As this energy crisis surges, 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.
  • Recently, the Securities and Exchange Commission (SEC) proposedextensive new rules that would require companies to disclose “climate-related risks” in an attempt to push Democrats’ environmental agenda through the inappropriate vehicle of securities law. This is a blatant move to starve American energy companies of capital and to publicly shame businesses not politically favored by Democrats.
  • In March 2020, President Trump directed the Department of Energy (DOE) to purchase 30 million barrels to begin filling the SPR.
  • Biden has now started the largest ever loan from our Strategic Petroleum Reserve of 180 million barrels of oil over six months.
    •  The SPR is meant for weather or national security emergencies, not political expediency.
    • This sale will deplete our Strategic Petroleum Reserve (SPR) by 40% once the release is complete.
  • Biden has continued to beg dictators and other foreign adversaries for help easing prices.
    • Recently, Biden officials once again begged Saudi Arabia to help boost oil supply, doubling down on Biden’s anti-American energy agenda.

WHAT BIDEN SHOULD BE DOING: 

  1. End the federal freeze on oil and gas leases.
  2. Fast-track pending LNG export permits
  3. Expedite approval of all pipeline and energy development
  4. Stop the regulatory assault on U.S. energy development and financing

MAKE NO MISTAKE: Joe Biden and House Democrats’ war on American energy is responsible for the pain at the pump. Americans deserve efficient, affordable, and American-made energy, but this administration has chosen its Far-Left Green New Deal agenda instead. It’s time to unleash American energy dominance.