The Colonial Pipeline Crisis Shows the Importance of Our Energy Sector and the Need for Energy Infrastructure to Protect It

The Colonial Pipeline Crisis Shows the Importance of Our Energy Sector and the Need for Energy Infrastructure to Protect It

May 17, 2021

Gas shortages on the East Coast caused by the cyberattack on Colonial Pipeline that led to the shutdown of the major pipeline, has helped rally Congress to speak up against the portions of President Biden’s infrastructure plan that would “eliminate tax preferences for fossil fuels.”

On Thursday, 55 House Republicans sent a letter to House Speaker Nancy Pelosi, and House Majority Leader Steny Hoyer, calling for Democrats to oppose Biden’s plan that would force oil and gas companies to pay more in taxes.

The Center Square reports:

“An infrastructure package should not include punitive tax provisions that would cripple a vitally important industry, lead to mass layoffs, skyrocketing energy costs for working families, higher prices at the gas pump, and give China and Russia the upper hand in a competitive global market,” read the letter, which was sent Thursday. “Policymakers should not be picking winners and losers, and if the oil and gas industry is truly the ‘loser’ that far left progressives want it to be, the market should decide.”

The letter marks the latest pushback against the tax law changes as Republicans use concerns over pipeline security this week to make their point.

“It’s one thing for policies to accelerate investment activity or production of certain products, but it is an entirely different matter to write laws that would punish a particular industry, especially one that is so fundamental to our economic growth and national security,” the letter read. “Using an ‘infrastructure’ package to weaken our energy infrastructure is a grave mistake that will hurt families, farmers, and small businesses still recovering from the pandemic.”

We couldn’t agree more. An infrastructure package that weakens our energy infrastructure is not in the best interest of the American people.

“The fossil fuel industry employs millions of Americans, predominantly in rural communities, while contributing more tax revenue than any other industry in the nation,” said Daniel Turner, founder of the energy workers advocacy group Power the Future. “Tax breaks and deductions for research, development, and capital improvements are not subsidies. The Biden administration purposely confuses the language because they know the truth does not advance their agenda.”

The Biden administration continues to push ‘Green New Deal’ policies while further crippling our oil and gas sector that provides 11 million high-paying manufacturing jobs, reliable and affordable energy, and the energy independence that secures our national security.

As House Minority Leader Kevin McCarthy said, “The Colonial Pipeline crisis shows that we need more American energy to fuel our economy, not less.” We hope this administration listens to the concerns of our elected officials and the constituents they represent.