The Biden administration lacks an understanding of how the energy industry works, and its recent statement regarding 9,000 approved drilling permits reflects as such, said Rep. Garret Graves (R-La.).
“Number two, you have things that are permitted that ultimately are dry holes. They don't actually have oil or gas. ... It’s not a viable well. You may have something that's permitted, but it may not have economically recoverable resources.”
Graves represents the sixth Congressional district of Louisiana, a major energy-producing state. He serves on the House Committee on Natural Resources and is the ranking member for two other House committees.
“Then the other thing that's so important to keep in mind—this administration came out and said: we're going to increase the cost associated with production; we’re going to increase regulations; we're going to block you from building pipelines. So all of this creates regulatory uncertainty. And once again, maybe I can produce energy, but I can't get it anywhere. Why would you produce it?” Graves said.
Biden has paused construction of the Keystone XL pipeline since he took office. He also placed a moratorium on leasing federal lands to oil and natural gas producers.
“So this is a flawed energy strategy coming out of this administration,” said Graves. “And they have put us in this just really awful situation that we're in right now.”
Currently, gas prices have reached the highest in American history.
In an attempt to contain the price surge, on March 1, Biden authorized the Department of Energy to release 30 million barrels of oil from the U.S. strategic petroleum reserves, despite Americans consuming an average of 20 million barrels a day.
Graves said the solution is to develop a longer-term strategy, which is to produce more American energy.
He also said Biden's energy policy actually had greater environmental impacts globally.
Graves explained that countries like Russia, Venezuela, and many African nations that we’re dependent on lack environmental rules.
“Their environmental standards don't hold a candle to us. So you're failing in energy production, you're failing at national security, you’re failing at prices, and you're failing in environmental sensitivity or protection,” said Graves.
Psaki claimed on March 7 that the United States produced more oil in President Joe Biden's first year than in former President Donald Trump’s first year. And according to the Department of Energy, in 2023, "we will produce more oil than ever before."
"Can’t do much right now. Russia is responsible," said Biden.