Reversing the terrible energy policies implemented by the Biden-Harris administration would be a prudent move for congressional Republicans if they are serious about delivering on their promises of a thriving economy and stable pricing.
In his last days as president, Biden is making matters worse for the US oil industry. More than 625 million acres of American shoreline were most recently subjected to yet another offshore drilling restriction by the Biden-Harris administration. To make things much more difficult for the next Trump administration to turn around, he utilized an obscure 1953 statute to ban any additional leases in the limited coastal zones.
By passing yet another destructive energy policy in the wake of his party’s defeat in the presidential election, President Biden is demonstrating a callous disregard for the will of the American people and obstructing President Trump’s efforts to revive the economy and reduce inflation.
Realizing that high energy costs lead to inflation and sluggish economic growth, the Biden-Harris administration has wasted no opportunity to increase the cost of producing energy from fossil fuels.
Keystone XL was halted by President Biden, resulting in the loss of thousands of jobs in the United States. To terminate leases and put a stop to the research and development of alternative energy sources, he used more than 125 executive orders. Several Louisiana facilities were put at risk when he banned the construction of any new LNG export terminals in the US. In order to avoid imposing expensive new regulations on American energy providers, his administration did all in its power to avoid doing so.
Over the last four years, inflation has been driven by the anti-energy policies enacted by the Biden-Harris government. In comparison to the first month of President Biden’s administration, the typical American was spending 29% more for electricity and 31% more for gasoline as of December. Just to keep the lights on and the gas tank filled in 2024, Louisiana families paid roughly $1,000 extra.
It became more costly for companies to run their operations due to the high prices of electricity and gas. A grocery shop can’t help but raise prices across the board if it needs to pay 29% more to maintain its refrigeration equipment and 31% more for the fuel required to deliver items. For that reason, since President Biden assumed office, the average annual grocery bill for Louisianians has increased by $1,500.
Fast economic development is essential if we are to escape President Biden’s high pricing, yet we are all too aware that high energy costs impede economic expansion.
To rebuild American energy independence and set the stage for future prosperity, President Trump will have to use all of his administrative tools. Members of Congress are able to lend a hand. We need to push for the Department of Interior to greenlight further lease sales, particularly those taking place overseas. At least two lease sales each year are required by the department. There were no lease sales in 2016 under the Biden-Harris government.
Additionally, LNG and oil companies are crippled by the existing federal restrictions, which lengthen the permitting approval process. By making reviews concurrent instead of successive, Congress may streamline the bureaucratic permitting process and cut down on needless court oversight.
“I promise you, we’re going to end fossil fuels,” Biden said activists in 2019, when he was running for president. Russia is now the leading supplier of LNG to the European Union, while real wages in the US have failed to keep pace with inflation.
Unwinding President Biden’s disastrous energy policies will need a concerted effort from everyone involved, and Republicans in Congress should be prepared to free American energy.