Biden Environmental Policies Put Energy Profits in Hands of Foreign Nations

Biden Environmental Policies Put Energy Profits in Hands of Foreign Nations

June 10, 2021

The challenge with the Biden Administration’s energy policy is simple – there isn’t one. Unfortunately, this isn’t much of a surprise. For decades, liberal Democrats have advanced environmental agendas that they attempt to masquerade as energy policies. This lack of any meaningful energy agenda then creates a domino effect — creating higher energy prices, that lead to higher prices for household goods, groceries and other items, that then contribute to inflation.

In an op-ed on Fox News, Congressmen Fred Keller (R-PA) and Dan Newhouse (R-WA) accurately and concisely summarize where President Biden’s lack of an energy agenda has taken us in just the first five months of his Administration.

Two years ago, the United States achieved energy independence for the first time since 1957. In 2019, we produced more energy than we consumed and became a net exporter of energy thanks to pro-growth policies that allowed American companies to utilize our vast natural resources to meet our country’s growing needs.  

In less than five months, Joe Biden’s shortsighted, politically-motivated maneuvers have erased virtually all of this progress, and in turn have made us increasingly dependent on foreign energy. 

Taking domestic energy supplies like oil and gas off the table doesn’t lessen the demand for these critical energy sources; rather it shifts the market away from the United States and toward other nations like Russia.

Last week, Reuters reported that recent “wins” by climate activists in courtrooms and board rooms are actually good news for state-owned oil companies in Russia and the Middle East.

“Oil and gas demand is far from peaking and supplies will be needed, but international oil companies will not be allowed to invest in this environment, meaning national oil companies have to step in,” said Amrita Sen from consultancy Energy Aspects.

The Biden Administration and their radical environmentalist allies cannot destroy demand for energy, but they can destroy America’s ability to produce it. And in the end, Americans just wind-up paying money to other countries for the privilege of using their energy resources instead of ours. So Russia and the Middle East will reap the benefits of the prosperous industry, while the U.S. loses the billions of dollars in revenue the industry brings in and the almost 10 million American jobs it supports.