Congress has a major opportunity to help support the American economy and quell inflation at the same time through domestic energy production.
The effort should be bipartisan, but right now it doesn’t appear to be. Sen. Ted Cruz (R-TX) is championing the effort to unleash the American energy goliath.
EXCLUSIVE: Ted Cruz Introduces 3 Bills To Accelerate Oil & Gas Permitting To Make America Energy Secure Again
— Henry Rodgers (@henryrodgersdc) January 30, 2023
Many citizens don’t realize the full potential of American energy production. Our country is naturally blessed in many ways.
The United States is number one in global oil production. It is also number one in natural gas and number four in coal production. We have so much potential if politicians would just get out of the way.
We saw this not that long ago. Politicians didn’t have the chance to stop the use of hydrofracking in places such as Texas, North Dakota, New Mexico and elsewhere. The use of the new technology allowed for massive increases in oil and natural gas production.
With our current high prices, here is a chance for Congress to really get something done for the American people. The restrictions put in place by President Biden are costing us every time we go to the pump.
Holding back American fuel production also gives more influence (and cash) to our nation’s adversaries overseas.
With the government getting out of the way, our nation could be a net oil exporter. Every barrel of oil sold overseas helps bring down our own prices and support domestic jobs.
Many of us remember the oil shortages of the 1970s and the high prices of the Obama Administration years. We don’t want to go back to that. President Biden’s policies put us at risk of higher and higher prices.
None of this was made better by the decision of the White House to sell off oil from the Strategic Petroleum Reserve. Democrats blocked former President Donald Trump’s efforts to refill the stockpile while prices are low.
Domestic energy production is a chance to ward off a recession and help many Americans make ends meet.
Allowing more natural resource extraction would go a long way toward reducing prices and offering well-paying jobs for workers. It’s a true win-win situation.