January 27, 2023

Increasing Energy Production to Bring Down Costs

Friend, 

Energy costs remain too high. From the price to heat your home, fill up your tank, or to buy groceries, high energy costs continue to drive up prices. Today, I supported legislation in the House to increase oil and gas production, while protecting our Strategic Petroleum Reserve (SPR). 

The bill simply put would require the Administration to have a plan if they draw down our reserves. If the Administration has a plan to draw down 5% of the reserve, there must be a plan in place to increase American energy production on federal lands. Right now, the SPR is at its lowest level since 1983. The Strategic Reserve is the worlds largest supply of crude oil. The reserve is most often used in national emergencies and natural disasters. In the last two years, the Administration has sold more than 250 million barrels, nearly 40% of the strategic stockpile. Beginning in May 2022, the Administration sold 1 million barrels of oil per day from the Reserve.

This bill will ensure our reserves are being properly utilized, resupplied, and protected. We cannot continue to draw down our reserves without a plan to increase production. Ensuring our reserves are readily supplied and being refilled should be a top priority. I am hopeful the Senate will take up this critical legislation. 

Unleashing American energy is a key step in bringing down costs and tampering inflation. I'm continuing to work to bring down costs and support an all of the above energy approach.

I'd like to hear your thoughts on high energy costs. Please take my survey below and join my newsletter.

As always, if you would like to share an opinion or need assistance working with a federal agency, please don't hesitate to contact my office. 

On Wisconsin,

Bryan Steil
Member of Congress

Click here to subscribe to my e-newsletter