Oct 20, 2022

No, Biden Hasn't Been 'Doing Everything' in His Power To Lower Gas Prices

President Joe Biden said he's been "doing everything in [his] power to reduce gas prices.” Has he, though?
No, Biden Hasn't Been 'Doing Everything' in His Power To Lower Gas Prices
Photo by Jack Prichett / Unsplash

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Biden's claims: The president says he’s done everything possible to reduce gas prices. But just a few weeks before midterms, the Biden administration is still struggling to lower the high prices at the pump, knowing they will hurt Democrats come elections. Biden will release more oil from the nearly depleted strategic reserve in what seems like a final attempt.

The reality

Record low oil production: The Biden administration “has leased fewer acres for oil-and-gas drilling offshore and on federal land than any other administration in its early stages dating back to the end of World War II.” That’s 97 percent less than the first 19 months of President Donald Trump’s term.

As gas prices rose, Biden made decisions that would only raise them higher:

  1. January 2021 (Avg. Gas Price: $2.33) - Biden began halting oil and gas leasing on federal lands and waters through an executive order. He also directed government agencies to eliminate fossil fuel subsidies by 2022.
  2. May 2021 (Avg. Gas Price: $3.11) - The Biden administration pressured big banks to divest from fossil fuel energy investments.
  3. June 2021 (Avg. Gas Price: $3.15) - Biden revokes permit and cancels Keystone XL pipeline.
  4. August 2021 (Avg. Gas Price: $3.25) - Biden called on Russia and OPEC to increase their oil production to counter rising prices instead of increasing domestic production. He also increased regulations and scrutiny to punish and sanction the fossil fuel industry.
  5. December 2021 (Avg. Gas Price: $3.39) - Biden halted federal aid for new fossil fuel projects abroad.
  6. February 2022 (Avg. Gas Price: $3.90) - Biden delayed issuing new oil and gas drilling permits on federal land just moments before Russia's invasion.
  7. March 2022 (Avg. Gas Price: $4.25) - Biden banned Russian oil imports.

Biden is to blame for high gas prices. The president rejected solutions that would solve high gas prices, instead adopting policies that would exacerbate it, like increasing regulations on the gas industry, revoking oil permits, and attempting to rely on foreign oil to make up for the difference. With few solutions left, the Biden administration is forced to rely on America’s strategic oil reserve, intended for severe emergencies and wartime.

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