- If signed, the bill would have imposed extreme costs for operating oil and gas businesses, and effectively banned new operations through permitting increases. Build Back Better’s regulations just force American consumers to buy foreign energy instead of American energy.
- President Biden’s 2023 budget request explicitly opposed funding the construction or maintenance of projects that would lower the cost of gas, diesel, or energy derived from fossil fuels—rather his budget sought to impose $45 billion of new taxes on domestic energy production and funnel the revenue for $44.9 billion of unidentified ‘climate priorities.’
Snubbed by Our Energy Partners
- Biden’s self-inflicted war on American energy forced him to beg Saudi Arabia and other not-so-friendly nations to pump more oil. We should have just increased our own production!
- After attacking the American energy industry, Biden then pleaded with other nations on four separate instances to export more oil to the world - to no avail.
- In August 2021, Biden failed to convince OPEC to increase oil supply.
- Biden again embarrassed himself on the world stage when he reached out to OPEC in November 2021. They told him if he wants more oil, he should pump it himself.
- In February 2022, Biden pressed Saudi Arabia for more oil supply, failing once more.
- Then in March 2022, Biden attempted to reach Saudi Arabia and the United Arab Emirates again. Both nations didn’t bother picking up the phone to speak with him.
- However, Joe Biden increased American imports of Russian oil by 160 percent in 2021.
Reversing the Damage
Biden should end his attacks on the American energy industry and start creating an arsenal of American energy. If he doesn’t, Congress should act by:
- Renewing leases on federal land for drilling and fracking.
- Enhancing clean liquid natural gas development and allowing American businesses to export to Europe.
- Immediately halting the unnecessary regulation that stifles American companies, forcing American businesses to purchase tainted foreign oil.
Republican Study Committee: Biden’s War on American Energy
Forum for American Leadership: Creating an Arsenal of American Energy