In 2020, the United States achieved energy independence under President Trump’s administration, producing more petroleum than it consumed in a year for the first time since 1949, according to the U.S. Energy Information Administration. However, this achievement was short-lived. President Biden began reversing these energy accomplishments made during the last administration on his first day in office, implementing policies that have significantly impeded domestic oil and gas production. Consequently, the American people have been subjected to exorbitant energy prices.
From shutting down the Keystone Pipeline to banning energy leases on federal land, Joe Biden has placed a lot of burden on energy consumers, but can a new Senate bill fix the problem? The Lower Energy Costs Act, or H.R. 1, was recently passed by House Republicans. The bill’s numbering reflects the recognition that unleashing American energy is a top priority for Congress and essential to the well-being of the economy and the American people. For more information, Lars speaks with Akash Chougule, the Vice President of Americans for Prosperity.