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Biden administration's energy policies fuel national crisis

September 19, 2024 | Budget: House Committee, Standing Committees - House & Senate, Congressional Hearings Compilation, Legislative, Federal


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Biden administration's energy policies fuel national crisis
In a recent government meeting, officials criticized the Biden-Harris administration's energy policies, claiming they have contributed to a significant energy crisis affecting American consumers. The discussions highlighted the administration's decision to terminate the Keystone XL Pipeline and implement tax increases on oil and gas companies, which critics argue have prioritized green energy initiatives over domestic energy production.

The meeting underscored that the national average gas price rose from $2.40 to $3.53 during the first year of the Biden administration, a trend that continued even after the onset of the Ukraine conflict. Critics pointed out that the administration's approach has led to the Strategic Petroleum Reserve (SPR) being depleted to its lowest levels in history, with 180 million barrels withdrawn. They expressed concern that recent efforts to replenish the SPR, including the purchase of 40 million barrels and the cancellation of a sale of 140 million barrels, do not equate to a full restoration of reserves.

Experts at the meeting emphasized the importance of maintaining a robust domestic energy production strategy, noting that U.S. energy consumption has increased significantly over the decades, while domestic production has also risen. They argued that the current policies could hinder the country's ability to meet growing energy demands and suggested that a balanced approach to energy production—incorporating fossil fuels alongside renewable sources—would be more effective in reducing emissions and ensuring energy security.

The discussions reflect ongoing tensions regarding energy policy in the U.S., with calls for a comprehensive strategy that supports both traditional and renewable energy sources to address the nation's energy needs while also considering environmental impacts.

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