News Releases

Since the day he took office, President Biden has weakened U.S. energy independence with proposals, policies and nominees that blame the fossil fuel industry for his administration’s missteps and out-of-touch aspirations, further harming an industry we need now more than ever.

January 20, 2021: President Biden takes office. The national average for a gallon of gas is $2.38.

President Biden signs an executive order revoking approval of the Keystone XL Pipeline, a project that would have strengthened American energy independence.

March 6, 2021: Congress passes a partisan $1.9 trillion FY2021 budget reconciliation package despite nearly $1 trillion left unspent from five previous COVID-19 packages.

May 28, 2021: President Biden proposes a budget that would increase taxes on oil and gas companies, taking aim at the fossil fuel industry in a move that would push production overseas.

August 11, 2021: President Biden calls on OPEC to increase production to combat the increasing cost of oil. This announcement comes despite America ranking as a top-three oil producer.

November 10, 2021: Inflation reaches a 30-year high.

November 17, 2021: President Biden urges FTC Commission Chair Lina Khan to investigate oil and gas companies' retail prices, blaming industry leaders as gas prices continue to soar.

November 23, 2021: As gas prices spike before the holiday season, President Biden orders the release of 50 million barrels of oil from the U.S. Strategic Petroleum Reserve, offering a band-aid for increased costs instead of retreating from energy policies hostile to domestic fossil fuel production.

February 10, 2022: Inflation reaches its highest rate in four decades, the steepest year-over-year increase since February 1982.

February 24, 2022: Vladimir Putin, leader of Russia and a top three oil-producing country, invades Ukraine.

March 6, 2022: U.S. crude oil surpasses $130 per barrel.

March 11, 2022: The national average for a gallon of gas reaches $4.33.

March 21, 2022: President Biden's Securities and Exchange Commission proposes a rule requiring companies to disclose greenhouse gas emissions, diverting investment away from fossil fuel producers.