With the average family spending $2,800 more on energy this year, pain at the pump is giving America its first taste of Democrats’ cruel Green New Deal agenda.
President Biden is doing nothing to lower energy costs, choosing instead to pass the buck for higher energy costs, push a “gas tax holiday” gimmick, and call for Congress to pass another tax hike scheme – a so-called windfall profits tax.
According to analysis by the Congressional Budget Office (CBO), the last time Congress passed a windfall profits tax, it reduced domestic oil production by as much as eight percent between 1980 and 1988.
As the Washington Examiner editorial board writes:
“If you don’t like paying $6 per gallon for gasoline, Biden’s answer is to warehouse your car (never mind those monthly payments you’ll still have to make) and pay $30,000 to $50,000 for an electric vehicle.
“He will say anything to avoid responsibility. And he will do anything, except what will work, in order to increase domestic fossil fuel production.”
Democrats’ crackdown on American-made energy is the problem–it’s not a “Putin Price Hike.”
- The first step President Biden took in office was canceling the Keystone XL pipeline and freezing leases for new exploration.
- In May 2022, the Biden Administration canceled oil and gas lease sales in Alaska and the Gulf of Mexico.
- The Biden Administration has touted their easing of restrictions on E15 gasoline as a way to address high energy costs. If Americans are able to find the E15 (which is sold at less than two percent of gas stations across the country), they will get five percent less fuel mileage.
- The Biden Administration also depleted our Strategic Petroleum Reserve (SPR) to its lowest level since 1987.
Democrats have no solutions, and are seeking to make this even worse.
- Energy Secretary Jennifer Granholm claimed the “volatility in prices” is an opportunity to “accelerate” Democrats’ “Green New Deal” agenda.
- Democrats’ approach would increase reliance on Russian critical minerals and Chinese-manufactured batteries and solar panels.
- Democrats’ “War on Energy” includes $145 billion in taxes on American energy companies, workers, and consumers, killing over 1 million jobs, raising fuel prices, and leaving America more dependent on foreign oil.