Washington, October 16, 2023
With conflict in the Middle East at a boiling point following Hamas’ barbaric terrorist attacks against Israel, Politico is now reporting that because of President Biden’s unprecedented drawdown of our Strategic Petroleum Reserve (SPR), to alleviate the pain at the pump Americans were feeling because of Biden’s war on American energy, our national security might be at risk if the conflict spreads.
MAKE NO MISTAKE: Ever since Biden started tapping into our SPR for political purposes, depleting it to the lowest levels since the early 1980s, House Republicans have been sounding the alarm. We know that energy security is national security. That is why we passed the Strategic Production Response Act, to prevent abuse of the SPR by Biden and future presidents, and the Lower Energy Costs Act, to unleash American energy dominance and drive down energy prices for Americans.
BIDEN’S ENERGY CRISIS BY THE NUMBERS:
- On the day that Biden was sworn into office, the average price for a gallon of gas nationwide was $2.39.
- On Thursday, the national average for a gallon of gas is $3.60.
- That is a 50% increase.
- Biden’s war on American energy resulted in gas prices reaching a historic high of over $5 in June 2022.
- According to the Energy Assistance Directors Association, households paid 12% more to cool their homes this summer.
BIDEN’S ANTI-ENERGY AGENDA:
- The Biden Administration has continually passed the buck by blaming domestic energy producers:
- On day one of Joe Biden’s presidency, he launched his war on American energy when he killed the Keystone XL pipeline, which could be supplying 830,000 thousand barrels of oil from Canada to U.S. refineries.
- In March 2020, President Trump directed the Department of Energy (DOE) to purchase 30 million barrels to begin filling the SPR.
- Biden is responsible for the largest-ever loan from our Strategic Petroleum Reserve of 180 million barrels of oil over six months.
- The SPR is meant for weather or national security emergencies, not political expediency.
- Biden has depleted our Strategic Petroleum Reserve by over 40%, bringing it to its lowest levels since the early 1980s.
- In 2022, the Biden Administration said that they planned to refill the reserve but have yet to do so.
IT’S SIMPLE: Energy security is national security and House Republicans have hit the ground running, passing legislation to protect our Strategic Petroleum Reserve and unleash American energy dominance.
H.R. 1 THE LOWER ENERGY COSTS ACT WOULD:
- Increase domestic energy production.
- Reform the permitting process for all industries.
- Reverse anti-energy policies advanced by the Biden Administration.
- Streamline energy infrastructure and exports.
- Boost the production and processing of hardrock minerals, including critical minerals.
WHAT HOUSE REPUBLICANS HAVE DONE TO PROTECT OUR STRATEGIC PETROLEUM RESERVE:
- PASSED The Strategic Production Response Act:
- House Republicans PASSED this legislation to prevent abuse of the Strategic Petroleum Reserve and require Joe Biden to put forth a plan to increase our domestic production.
- The SPR is for emergencies—not political points.
- Joe Biden sold nearly 40 percent of our stockpile since being elected—more than EVERY U.S. President in history COMBINED.
- PASSED The Protecting America’s Strategic Petroleum Reserve From China Act:
- This legislation prevents the Secretary of Energy from selling any SPR oil to an entity affiliated with the Chinese Communist Party (CCP) or any entity that intends to export it to China.
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