Oliver McPherson-Smith, Ph.D,
November 14, 2023
The Biden Administration’s War on American Energy
THE BIDEN ADMINISTRATION IS WAGING A REGULATORY WAR ON CONVENTIONAL AMERICAN ENERGY. THIS HAS FUELED PERSISTENTLY HIGH CONSUMER ENERGY PRICES.
RECENT CONSUMER ENERGY PRICES (INDEXED TO JANUARY 2017 = 100)1
THE BIDEN ADMINISTRATION HAS SOUGHT TO STYMIE EVERY SEGMENT OF THE CONVENTIONAL ENERGY INDUSTRY.
Energy production has been hindered by:
- An illegal moratorium on federal oil and gas leasing.
- Restrictions on offshore drilling.
- Higher fees and royalty rates for federal oil and gas leases.
- An impending methane tax.
Energy transportation has been limited by:
- The cancellation of the Keystone XL pipeline.
- Slower pipeline approvals than under the previous administration.
- Slower approvals for liquified natural gas exports.
- Additional permitting red tape that encourages activist litigation.
Energy users have been targeted with:
- An onerous power plant emissions rule that restricts reliable base load generation.
- A high cost of compliance with radical vehicle fuel efficiency and emissions standards.
- Counterproductive energy efficiency standards for home appliances.
- Efforts to mandate corporate climate disclosures that require tremendous compliance costs.
Average Consumer Energy Prices are 31% Higher than Under the Previous Administration.
THE AMERICA FIRST SOLUTION: UNLEASH AMERICAN ENERGY ABUNDANCE.
Unleashing American energy abundance through a predictable, streamlined, and level regulatory playing field would facilitate lower consumer prices. Rather than picking winners and losers with subsidies and onerous regulations, federal energy policy should foster competition, technological development, and production.