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.