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More than twenty leading conservation, fiscal responsibility, and clean energy organizations sent a letter to President Biden last week, urging him and his administration to stand up to the oil and gas industry's misinformation campaign about the underlying causes behind high gas prices. Further, the letter encourages President Biden to call out the industry for trying to profit off the tragic conflict unfolding in Ukraine while enjoying record profits at home.
"Contrary to industry claims, there is no evidence that more leasing or increased production on public lands would lower gas prices or heating bills," the letter states. In fact, domestic oil production is already nearing an all-time high, and has increased 26 percent between the start of 2016 and the end of 2021, averaging well over 11 million barrels per day in 2022. Despite the rhetoric coming from the industry, oil companies are sitting on 13.9 million acres of unused leases, and have stockpiled 9,100 unused permits to drill on federal lands.
The letter acknowledges that despite robust domestic production, gasoline prices remain high, along with oil executives’ profits—shares in oil companies are on average about 20 percent higher than they were a year ago. "Retail gasoline prices and home heating costs have always gone up and down, unaffected by the energy policies enacted during any presidential term, and regardless of the amount of oil and gas produced on public lands or the number of federal leases and permits issued."
The letter also makes the case for breaking our dependence on fossil fuels and transitioning to clean energy alternatives that can’t be controlled by hostile foreign actors, stating, "New leasing will ultimately further drive climate change, cost U.S. communities and taxpayers dearly, and will fail to impact energy prices."
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Increased use of state and federal lands is a good thing, and the solution isn’t to curtail access, but rather increase it by conserving more land and removing barriers to entry from those who feel excluded or unable to access the outdoors."
