How low could Biden drain US oil reserves?
Rep. Steve Scalise discusses how the Biden administration plans to release 1 million barrels of oil from U.S. reserves every day for six months on ‘Wall Street.’
Two American energy groups are targeting the Biden administration over its dismissal of domestic oil and gas production, one with a five figure ad purchase and another whose president will offer testimony before a Senate committee next week.
The American Energy Alliance launched a five figure ad campaign against President Biden and his administration for "sending mixed signals" when it comes to energy production in America.
View of the pumpjack in the oil well of the oil field. The arrangement is commonly used for onshore wells producing little oil. (AP/iStock / AP Images) PENNSYLVANIA REPUBLICAN SLAMS BIDEN'S ‘COMPLETE ASSAULT’ ON AMERICAN ENERGY
The ad – titled "Which is it?" – features remarks from Biden, Energy Secretary Jennifer Granholm, and U.S. special presidential envoy for climate John Kerry when they dismissed oil production in the United States and compares those statements to more recent remarks they have made regarding the importance of increasing oil supply.
"So which is it," the advertisement questions. "We need clear support for domestic energy production."
The ad will be televised in Washington, D.C., and 12 states – Arizona, California, Massachusetts, Maryland, Michigan, Nevada, New Jersey, New York, Oregon, Pennsylvania, Texas, and Washington – as Americans continue to feel the pain at the pump.
In a statement released this week, Thomas Pyle, president of the American Energy Alliance, claimed the Biden administration has "done everything it possibly can to strangle domestic energy production," saying Biden's plan to release a million barrels of oil per day for the next six months from the U.S. Strategic Petroleum reserve is not a "sustainable plan to reduce prices."
Pyle also gave similar comments during a recent interview with FOX Business. "In spite of their rhetoric, the Biden Administration is doing absolutely nothing to encourage the production of American natural gas and oil. In fact, they are making it more difficult," Pyle said at the time. "The pain at the pump is real and this Administration is making it worse, not better."
A pumpjack is seen at sunrise near Bakersfield, California October 14, 2014. ( Reuters/Lucy Nicholson/File Photo / Reuters Photos)
The Western Energy Alliance is also pushing back against the Biden administration over its unwillingness to increase domestic oil supply. On Tuesday, Western Energy Alliance President Kathleen Sgamma will testify in a hearing by the Senate Commerce Committee.
"President Biden is attempting to shift blame for high gasoline prices away from his climate change policies, which were designed specifically to eliminate federal oil production and make energy prices necessarily skyrocket, onto American producers," Sgamma said in a statement shared with FOX Business. "I look forward to testifying on Tuesday to discuss how his very policies are suppressing American production and how they could be reversed."
U.S. President Joe Biden speaks about reducing energy prices in the Eisenhower Executive Office Building in Washington, D.C., U.S., on Thursday, March 31, 2022. (Al Drago/Bloomberg via Getty Images / Getty Images)
Similar to the positions taken by the American Energy Alliance and Western Energy Alliance, the American Petroleum Institute also took aim at Biden and members of his administration this week, saying they have a "fundamental misunderstanding of how leases work."
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"The best thing the White House can do right now is to remove barriers to investment in American energy production and infrastructure," said API President and CEO Mike Sommers.
"The administration once again has a fundamental misunderstanding of how leases work," Sommers added. "The percentage of producing leases is at a two-decade high, with nearly two out of three leases producing natural gas and oil. With nearly 5,000 permits awaiting approval from the administration and thousands more tied up in litigation, we stand ready to work with the administration to expand domestic production and ensure the U.S. and our allies have access to the affordable, reliable energy that’s needed not only today but for years to come."
The national average per gallon of gas is $4.20, according to AAA, up more than $1.30 since the same time last year.
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