This morning Senator Ted Cruz laid out exactly what Joe Biden has done, step by step, in his war on oil and gas that has drive up prices so high.
Watch:
Sen. Ted Cruz: “The Biden administration’s assault on oil & gas production began during his campaign when he pledged during the debate… ‘No more drilling on federal lands. No more drilling, including offshore. No ability for the oil industry to continue to drill, period. Ends.’” pic.twitter.com/MUvsAVA8nt
— Steve Guest (@SteveGuest) April 5, 2022
Ted Cruz starts by quoting the infamous proclamation made by Biden during his presidential campaign:
“No more drilling on federal lands. No more drilling, including offshore. No ability for the oil industry to continue to drill, PERIOD. Ends.”
Cruz then detailed the actions Biden has taken to fulfill this pledge:
- The first day in office Biden canceled the Keystone Pipeline.
- The next week he halted all oil and gas lease sales, stopping development on the part of the economy that produces 24% of America’s energy.
- On May 7th, Biden’s interior department announced plans to prohibiting oil and gas production on 30% of US federal lands.
- On June 1st, Biden revoked leases on the north slopes of Alaska, totaling 16 billion barrels of oil in stranded production.
- On October 7th, Biden elmiated Trump’s permit streamlining regulations.
- On October 29th, Biden’s interior began using the “social cost of carbon” in permitting, which is a new kind of analysis never enacted by Congress designed to deny permits.
- On March 21 2022, Biden’s SEC announced a new regulation aimed at reducing investment in oil and gas, cutting off capital for drilling.
Cruz goes on to point out that Biden has waged a war on supply and because of that prices have skyrocketed, noting this is how supply and demand work.
He adds that “This is not an accident. This is not Putin. This is Joe Biden and the Democrats and the Green New Deal.”
Watch the video for more…