Over the past two years, consumers everywhere have felt the consequences of stifled energy production and dependence on foreign energy sources. From day one of the Biden administration, the president’s misguided energy policies have caused skyrocketing energy prices. As fuel prices shot up more than 60 percent, families struggled to pay for essentials like gas and groceries. Sadly, this forced many to resort to increasing their levels of household debt or burning through their family savings. Americans everywhere have seen firsthand what happens when we fail to prioritize domestic energy production.
We have also seen what happens abroad when nations are at the mercy of energy imports from nefarious actors. Vladimir Putin’s invasion of Ukraine brought the problem of energy security front and center and highlighted the risk of dependence on foreign energy sources. Unfortunately, the Biden administration’s response offered little relief as the president’s approach to energy policy created an unprecedented number of obstacles to domestic solutions to the energy crisis.
I am a staunch supporter of the mission to unleash American energy independence, and this week I joined House Republicans to advance an actual solution to the problems we are seeing. If enacted, H.R. 1, the Lower Energy Costs Act, would boost domestic energy production and exports, cut the red tape restricting development of all industries, and reverse the anti-energy policies of the Biden administration.
H.R. 1 expresses disapproval for President Biden’s cancelation of the Keystone XL pipeline, which effectively prevented creation of an estimated 11,000 American jobs. The bill would also enforce transparency from the Biden administration on their plans for offshore oil and gas lease sales and stop the administration’s efforts to phase out gasoline and internal combustion engines. Restricting access to these fuels only raises the cost of energy and makes the United States more dependent on supply chains primarily controlled by China.
The federal government should not be in the business of picking winners and losers in energy. Whether biofuels, nuclear, or petroleum to name a few, our approach must embrace an all-of-the-above path forward in which the best solutions are allowed the freedom to enhance prosperity for the future.
Because I recognize the potential of biofuels to be a significant part of this path forward toward American energy independence, I recently introduced bipartisan, bicameral legislation, the Consumer and Fuel Retailer Choice Act. This bill – which I lead along with Senator Deb Fischer – would ensure nationwide, year-round sale of E-15 at the pump. Year-round E-15 has broad, bipartisan support in Congress and from key stakeholders. Moving forward with year-round E-15 would provide consumers affordable fuel options while boosting American energy independence. Consumers need year-round, nationwide E-15, and I’ll keep working to ensure biofuels are part of our all-of-the-above approach to energy production.
H.R. 1 is an important step toward American energy dominance. American energy production has the power to lower prices and strengthen our energy supply chains. Increasing production and untangling energy from burdensome regulations is key to providing certainty and lowering costs for American businesses, consumers, and families.
Adrian Smith, member of Congress