A Promise Kept: Biden’s Surging Gas Prices

Research

Biden Refuses To Take Responsibility For Record High Gas Prices After Spending Two Years Pledging To Eliminate Fossil Fuels And One Year Waging War On American Energy

BIDEN IS GASLIGHTING AMERICANS

Biden refuses to take responsibility for his radical anti-U.S. energy agenda that has led to Americans paying record high gas prices.
- The White House is now trying to shift blame again, claiming oil and gas companies are price gouging after blaming the war in Ukraine for weeks.
The Biden administration is out of touch with struggling Americans, and the pain at the pump is the point of Biden’s war on American energy.
As Biden continues to fulfill his pledge to kill American energy independence, the U.S. Energy Information Administration “projects no scenario in which global demand for oil and natural gas do not increase through at least 2050.”
Time and time again, Biden fails to blame the real culprit for record gas prices – his own disastrous policies.

DURING HIS CAMPAIGN, BIDEN PROMISED TO KILL U.S. OIL AND GAS

Throughout his campaign, Biden promised to wage war on domestic energy production.
- In July 2019, Biden promised, “we would work [fossil fuels] out. We would make sure it's eliminated."
- In September 2019, Biden guaranteed that, “we’re going to end fossil fuel.”
- In September 2019, Biden said, “I’ve argued against any more oil drilling or gas drilling on federal lands ... we should, in fact, be looking at what exists now… I would not allow any more."
- In February 2020, Biden said “a transition [from fossil fuels]… it’s going to have to happen.”
- In October 2020, Biden said, “I would transition from the oil industry, yes.”
- In March 2020, Biden promised, “No more subsidies for fossil fuel industry. No more drilling on federal lands. No more drilling, including offshore. No ability for the oil industry to continue to drill, period, ends.”

AS PRESIDENT, BIDEN CONTINUED HIS PLEDGE TO KILL AMERICAN ENERGY

Biden’s promise didn’t end with his campaign – as president, Biden’s has repeatedly pledged to target American made energy.
- In January 2021, while announcing new efforts to limit oil and gas production, Biden said “Climate change will be at the center of our national security and foreign policy.”
- In April 2021, Biden said we must “finally end fossil fuel subsidies.”
- In March 2022, Biden said, “we have to get off our dependency on fossil fuels.”
- In March 2022, Biden said “We are moving in the direction that we don’t need” fossil fuels to drive a car.

BIDEN OFFICIALS HAVE REPEATEDLY SAID THEY WANT TO ELIMINATE U.S. OIL AND GAS PRODUCTION

It’s not just Biden – his Cabinet and other administration officials have repeatedly said they are not interested in U.S. oil and gas production.
- In April 2021, Energy Secretary Jennifer Granholm admitted the administration was “reviewing” a full fracking ban.
- In June 2021, Interior Secretary Deb Haaland suggested that she is open to a permanent ban on new oil and gas drilling on federal lands.
- In March 2022, Biden’s economic advisor Brian Deese said, “The only viable path to energy independence” is to reduce fossil fuel use to “zero.”
- In March 2022, Granholm said that we need to make sure that “we wean ourselves off of fossil fuels.”

KILLING AMERICAN ENERGY: A PROMISE KEPT BY BIDEN

As president, Biden has spent the last year enacting policies and pushing an agenda meant to crush American energy.
On his first day in office, the Biden administration “issued a memo suspending the authority of the local Bureau of Land Management offices to approve leases, drilling permits, and mining operations.”
- On the same day, Biden cancelled the Keystone XL pipeline, killing 11,000 jobs.
- Biden also reinstated Obama-era energy regulations and began the process of rolling back Trump-era regulations.
In his first week in office, Biden signed an executive order to “eliminate fossil fuel subsidies.”
The Biden administration has repeatedly suspended or halted oil and gas leases on federal lands, cutting off more potential U.S. oil and gas production.
- Last month, the Biden administration indefinitely delayed planned oil and gas lease sales on public lands.
- In June, the Biden administration suspended oil and gas leases in the Arctic National Wildlife Refuge (ANWR).
- In January 2021, Biden signed an executive order to halt oil and gas leasing on federal lands and waters.
In November, the Biden administration announced multiple policies that targeted American made energy.
- The administration proposed increasing royalty rates on domestic oil production and limiting areas available for development, which would ultimately make it more expensive to drill for oil and gas on public lands.
- The administration admitted it was “studying” shutting down the Line 5 Pipeline in Michigan.
- The administration announced new regulations for methane emissions which is expected to cost U.S. producers over $1 billion a year.
Biden’s proposed FY2022 budget included $120 billion in new taxes targeting the U.S. fossil fuel industry in hopes of discouraging additional oil and gas development in the U.S.
Just in the last week, Biden has taken new steps to suppress American energy.
- The Biden administration proposed standards “to regulate conventional trucks out of existence,” and declined “to appeal a federal court decision vacating the only lease sale held on federal lands or waters.”
The Biden administration is expected to announce a new rule which would mandate companies to “disclose greenhouse emissions from their entire supply chain.”
- The rule will likely be costly for businesses and make it more difficult for U.S. oil and gas companies to fund their operations.
- Starving U.S. oil and gas producers of financing could “have the unintended consequence of driving most of the production to national oil companies (NOCs),” foreign state-owned or controlled oil companies like PetroChina and Venezuela’s PDV.

AMERICA IS PAYING THE PRICE FOR BIDEN’S RADICAL ANTI-ENERGY POLICIES

U.S. gas prices have reached their highest level ever recorded.
- Under Biden, 33 states have hit new record high gas prices, and in 37 states, Americans are paying average prices above $4 per gallon.
- In Texas, gas prices are so high that drivers near the border are driving to Mexico for cheaper gas.
- In some parts of the country, gas prices are now over $7 a gallon.
- The average American household will potentially be forced to spend an additional $2,000 on gas this year because of Biden’s gas hike.
Due to Biden’s self-inflicted gas crisis, Uber and Lyft have decided to implement “fuel surcharges to rides nationwide.”
Before Biden took office, U.S. petroleum imports were at their lowest since 1991 – now under Biden, the U.S. is again expected to become a net importer of petroleum in 2022.