The Reason For Higher Gas Prices

Missoula MT

Description

President Biden has overhauled America's approach to its oil industry. In June, Biden suspended oil drilling leases in the Arctic National Wildlife Refuge, the latest move in a series of sweeping policy changes to how the U.S. approaches the oil industry. Since taking office, Biden has signed a series of broad executive orders related to the environment, including pausing new federal oil leases, rejoining the Paris climate agreement, eliminating subsidies for the fossil fuel industry, revoking permits for the Keystone XL Pipeline and converting the government's fleet of vehicles to electric power. Republicans have hammered the Biden administration for relying on OPEC to address rising gas prices, instead of boosting domestic oil production. In an August letter to Biden, 24 Republican senators called it "astonishing that your Administration is now seeking assistance from an international oil cartel when America has sufficient domestic supply and reserves to increase output which would reduce gasoline prices." "Your Administration’s domestic oil and gas development policies are hurting American consumers and workers, are contrary to an "America First" energy agenda, and reinforce a reliance on foreign oil," the senators added.