Senators urge Biden to stop Oil Cartel reliance

U.S. Senators Roger Wicker (R-Miss.) and Cindy Hyde-Smith (R-Miss.) have signed a letter encouraging President Biden to reverse his decision to ask the Organization of the Petroleum Exporting Countries (OPEC) and its allies to increase oil production in response to rising gas prices.

Twenty-four Senators signed the letter, which makes it clear that the best and most effective way to reduce the price of gasoline at the pump is to unleash clean, affordable and reliable American energy.

“Since your first day in office, your Administration has pursued policies that have restricted and threatened American oil and gas development, which has had devastating consequences for American workers and consumers.  It is astonishing that your Administration is now seeking assistance from an international oil cartel when America has sufficient domestic supply and reserves to increase output, which would reduce gasoline prices,” the Senators wrote.

“We agree with your intent to reduce the cost of gas for hardworking Americans, but your domestic policy agenda has proven to have the opposite effect and continues to threaten American jobs and family budgets.  We urge your Administration to revise its regulatory agenda and legislative priorities as it relates to domestic oil and gas development,” the lawmakers added.

U.S. Senator Jim Inhofe (R-Okla.) led the letter, which was also signed by Senators Mike Braun (R-Ind.), Shelley Moore Capito (R-W.Va.), Bill Cassidy, M.D. (R-La.), John Cornyn (R-Texas), Tom Cotton (R-Ark.), Kevin Cramer (R-N.D.), Ted Cruz (R-Texas), Steve Daines (R-Mont.), Lindsey Graham (R-S.C.), John Hoeven (R-N.D.), Ron Johnson (R-Wis.), John Kennedy (R-La.), James Lankford (R-Okla.), Mike Lee (R-Utah), Cynthia Lummis (R-Wyo.), Roger Marshall (R-Kan.), Jerry Moran (R-Kan.), Mike Rounds (R-S.D.), Dan Sullivan (R-Ala.), Thom Tillis (R-N.C.), and Todd Young (R-Ind.). 

Read the letter here:

Dear Mr. President,

We are surprised by your recent actions in calling on the Organization of the Petroleum Exporting Countries (OPEC) and its allies to increase oil production in response to rising gasoline prices.  Since your first day in office, your Administration has pursued policies that have restricted and threatened American oil and gas development, which has had devastating consequences for American workers and consumers.  It is astonishing that your Administration is now seeking assistance from an international oil cartel when America has sufficient domestic supply and reserves to increase output, which would reduce gasoline prices.

Last month, gasoline prices reached a seven year high and are forty-percent higher than they were on January 1, 2021.  It is no surprise how we got here.  Your Administration’s domestic oil and gas development policies are hurting American consumers and workers, are contrary to an “America First” energy agenda, and reinforce a reliance on foreign oil.  For example, you have rejoined America into the radical, job-killing Paris Climate Agreement, cancelled the Keystone XL pipeline and its associated 10,000 jobs, imposed an apparently indefinite pause on oil and gas drilling leases on federal lands and waters, including suspending drilling leases in the Arctic National Wildlife Refuge, and proposed increasing taxes on those engaged in oil and gas development.  These policies, in conjunction with runaway inflation, are increasing the price of gasoline and do not serve American interests.  In fact, these policies threaten our energy and national security by making us more reliant on foreign nations for our energy needs.

We agree with your intent to reduce the cost of gas for hardworking Americans, but your domestic policy agenda has proven to have the opposite effect and continues to threaten American jobs and family budgets.  We urge your Administration to revise its regulatory agenda and legislative priorities as it relates to domestic oil and gas development.  The best and most effective way to reduce the cost of gasoline at the pump is to unleash clean, affordable and reliable American energy.

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