Wicker: Securing American Energy Resources
By U.S. Sen. Roger Wicker (R-Miss.)
Energy Independence is Good for Business and Security
Americans are more prosperous and secure when the United States can produce its own energy. Our livelihoods depend on energy resources. Without them, hospitals grind to a halt. Cars stay in the driveway. We lose access to even basic internet connection, and we can no longer preserve food in our refrigerators. Today, too much of our energy supply comes from adversarial countries that want to see the United States fail.
Our country is blessed with vast energy resources. In Congress, I have been working to support producers who want to make the most of our country’s potential. This summer, congressional Republicans approved and President Trump signed legislation that will decrease our reliance on energy from other countries and will increase opportunities for American industry.
Biden Blocked America’s Energy Industry
President Biden bowed to the liberal wing of his party time and again, especially on issues related to energy. His administration embraced the radical Green New Deal agenda and brought it into the mainstream. The former president ended numerous federal leases on energy-rich land, keeping valuable resources locked underground. He blocked mining and drilling permits, or he added so many regulations to the permitting process that it was impossible for companies to develop sites. He pushed through the absurdly named Inflation Reduction Act (IRA), which stifled American energy production and devoted billions of dollars to climate special interests.
Republicans Restore American Energy Independence
In the reconciliation bill that President Trump signed on July 4, Republicans continued repairing the damage President Biden inflicted on American energy production.
We expanded and streamlined permitting for new developments, giving American producers confidence that they can invest at home. The former administration raised the royalties companies had to pay to extract resources on federal land. When Republicans took the majority, we began encouraging more domestic production by lowering those fees. The law begins refilling the Strategic Petroleum Reserve with American energy, which can reduce our reliance on imports. We also rescinded a $6 billion Biden-era climate slush fund from the IRA.
Energy Security is National Security
Bringing energy producers home is good for business. We can create well-paying jobs across the country to employ Americans in work that directly benefits their communities. It is also good for national security. More self-reliance means less vulnerability to the whims of other nations. As the Chairman of the Senate Armed Services Committee, I am especially attuned to the ways energy independence can further our national defense.
The Chinese Communist Party has a near-monopoly on many important critical minerals, which are key components in batteries, medical devices, and military equipment. In negotiations for this summer’s reconciliation bill, I helped craft provisions that will increase our ability to rebuild our own supply chains for these minerals. I secured funds to increase domestic mining and refining capacity and to purchase items for our National Defense Stockpile, which houses essential materials we hold in reserve. My legislation also established a loan program, which will help producers access capital they need to develop critical mineral mines and processing capacities.
In the past six months, Republicans in Congress have taken significant action to set the United States on a path toward stability, prosperity, and security. Americans can rest easier knowing we will produce more energy at home as the world grows more uncertain.
This column is the weekly Wicker Report from U.S. Sen. Roger Wicker, who is solely responsible for its content.
