11/23/2021 | Press release | Distributed by Public on 11/23/2021 10:56
"The Strategic Petroleum Reserve is supposed be used during genuine national emergencies not as a mechanism to reduce the price of gasoline," said Cole. "If the Biden Administration wants to lower gasoline prices, it should end its war on the American oil and gas industry. It could do so by reversing its decision to limit new exploration and production on federal lands and authorizing construction of the Keystone XL Pipeline. The Trump Administration showed that when domestic production of oil and gas is encouraged, robust economic growth and low gasoline prices can also exist simultaneously.
"The high prices Americans are paying at the pump are directly attributable to the Biden Administration's decision to punish the domestic oil and gas industry. That is exactly the wrong approach. In the end, all it does is raise energy costs all Americans are forced to pay, contribute to rapidly rising inflation and make the United States dangerously dependent on foreign countries and producers for its energy needs."
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