Fox News recently published an opinion piece by Former Texas Secretary of Energy Rick Perry coinciding with President Biden’s bilateral meeting with Saudi Arabia. The President’s trip focused on a myriad of topics, among them, the global energy crisis and potential solutions to alleviate high prices. Perry believes the trip could be beneficial to American energy interests, but given President Biden’s hostility to domestic energy producers, “our leaders would rather first look abroad for solutions to the current energy crisis rather than removing barriers to American energy development.”
Instead of supporting domestic development, President Biden has focused his efforts on blaming energy companies, while limiting their operations. Volatile fuel prices will not stop until the administration ends their “keep it in the ground” stance on energy projects. Secretary Perry highlights his service at the Energy Department, where he worked to expand American energy production and keep energy prices affordable. He writes that when he left the Department of Energy, “America was a net-exporter of American oil and natural gas.”
The Biden Administration is now considering a windfalls tax on the very industry needed to help fight volatile fuel prices and ensure America’s energy independence. The Carter Administration tried a similar measure with its Windfall Profits Tax but domestic production decreased, subsequently making the U.S. more reliant on foreign imports. This is the exact opposite of what the administration should be doing.
In addition to traveling to Saudi Arabia, President Biden should visit Texas and North Dakota, two of the most critical energy producing regions in the country. Thanks to development of the Bakken Formation, as well as robust investments, North Dakota now accounts for nearly 10 percent of the nation’s oil production. The President should offer clarity to domestic energy leadership by supporting the Dakota Access Pipeline, which has created thousands of jobs and has the capacity to transport hundreds of thousands of barrels of oil per day.
The administration needs to support domestic energy infrastructure and offshore leasing, instead of promoting ineffective solutions. The President and Secretary Granholm should come back to the table and work with industry leaders on achieving energy independence once again. Secretary Perry concludes his piece emphasizing how President Biden should listen to Americans who are struggling to fill their gas tanks and pay their grocery bills by reversing course and finally put forth tangible solutions to address our country’s energy crisis.