Biden Administration Raises Fees on American Oil Production

Biden Administration Raises Fees on American Oil Production

April 15, 2024

In typical Biden fashion, there was a Friday afternoon announcement last week. This time, the administration announced that it would raise fees on oil production. This happened the same week we learned that inflation continues to grow higher than expected.

The Hill reports,

“The Interior Department finalized a rule Friday making it more expensive for oil and gas producers to drill on federally owned lands. Several of the provisions in the rule — such as raising the rent the government charges to oil companies for using its land and increasing the government’s share of the profits from that oil — were set out in law by the Democrats’ Inflation Reduction Act.”

The announcement arrives as the cost of gas at the pump continues to rise, and American oil production falls by nearly 800,000 barrels of oil a day.

“When you work to increase costs while inflation is skyrocketing, tone deaf doesn’t begin to describe Joe Biden and his administration,” said Daniel Turner, Founder and Executive Director for Power The Future. “This announcement is the result of the laughably named Inflation Reduction Act, yet Joe Biden feels increased costs are the answer to inflation. One thing is clear: Joe Biden is worried about what’s going to happen in November so he’s doing all he can to force his Green New Steal on our families now.”