Gas prices are through the roof, passing a $5 national average. The Biden administration likes to claim it is Putin’s fault, or the Trump administration’s, but that is simply not true. The truth is, President Biden has taken decisions that have caused gas prices to rise.
Here are three concrete things the Biden administration has done to hurt the US oil and gas industry:
Ended leases for drilling on Federal lands, making it almost impossible for new drilling projects to begin.
Imposed burdensome regulations, which increase the cost of doing business. That cost gets passed directly to the consumer.
Advocated against oil and gas every chance it gets, disincentivizing new investment and innovation.
These actions, and many others, have all contributed to crippling oil and gas production in the US. The only way to get the cost of gas back under control is to reverse course.
