Increasing regulations, limiting American energy production leads to pain at the pump
WASHINGTON, D.C. — Congressman David B. McKinley (WV-01), testified today during the Subcommittee on Oversight and Investigations of the Committee on Energy and Commerce about the record high gas prices facing American families, that have been rising since President Biden took office.
“President Biden and House Democrats continue to blame Putin and U.S. oil companies for rising gas prices, when in fact it is their own anti-American energy policies driven by far-left environmental activists that have caused prices to spike,” said Rep. McKinley. “Restoring American energy production is the best option for reducing gas prices that are crushing American families.”
Excerpts and highlights from his prepared remarks:
Thank you, Mr. Chairman. Surely this committee recognizes that gas prices are set at a global market and are influenced by domestic regulations.
So, let’s take a step back. According to the Energy Information Administration, gas prices historically tend to significantly increase with Democratic presidents, imposing more regulations; and have even decreased under Republican presidents. Gas prices in fact dropped 52% under Reagan.
Listen to what’s been said by the panelists. Since our goal is to lower gas prices at the pump for Americans, we must stop overregulating, allow increases to production and supply.
So, Mr. Chairman, high gas prices seem to be a response to increased regulations and the administration has already began waging its own war on fossil fuels by:
· Issuing a federal leasing moratorium;
· Slowing down the permitting process companies have sought 22,000 permits but only 9,000 have been approved;
· Weaponizing the Federal Reserve and SEC.
· Cancelling the Keystone XL Pipeline and threatening others like Line 5; The Atlantic Coast Pipeline; Dakota Access Pipeline; and Mountain Valley Pipeline.
No wonder the market is nervous and prices have increased.
Remember, our goal is to lower gas prices, increasing regulations will produce the opposite.
WV Metro News: In hearings, West Virginia delegation blames Biden policies for high fuel prices
“Since our goal is to lower gas prices at the pump for Americans, we must stop overregulating,” McKinley said, citing a federal leasing moratorium, slowing down a leasing process, policies of the Federal Reserve and halted work on the Keystone XL Pipeline.
“No wonder the market is nervous and gas prices have increased. Remember, our goal is to lower gas prices at the pump for Americans. Increasing regulations will have the opposite effect.”
McKinley directed questions at one of the panelists, former U.S. Army General H.R. McMaster, now a senior fellow at the Hoover Institution. He asked about two major pipelines that would have crossed West Virginia toward eastern markets, the now-defunct Atlantic Coast Pipeline and the long-stalled Mountain Valley Pipeline.
“If they had been completed would that have made energy costs in America more likely to have decreased?” McKinley asked.
“Yes,” responded McMaster, former National Security Adviser in the Trump administration. “And also, just made the supply much more secure and accessible.”
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Original source can be found here.
