Energy industry blames Biden's oil-and-gas crackdown for higher prices

President Biden’s crackdown on the oil-and-gas industry is driving soaring energy prices, and Build Back Better will only push costs higher, according to the American Petroleum Institute.

In his 2022 State of American Energy address Wednesday, API President Mike Sommers said the U.S.

“Meanwhile, with inflation soaring to historic levels, we’ve seen proposals in Congress for a targeted tax increase for natural gas, and even further restrictions on American energy development,” Mr.

Sommers said.

Sommers said.

“We’re focused on reversing those policy decisions but at the same time, we have to stop this natural gas tax because that would just mean higher prices for American consumers.”.

policies that restrict domestic production force our country to seek relief from OPEC, undermining our energy independence.” – API’s @mj_sommers #SOAE2022.

is the world’s leading oil-producing country, but policies aimed at curtailing production will inevitably result in “consequences,” Mr.

Sommers said.

policies that restrict domestic production force our country to seek relief from OPEC, undermining our energy independence,” he said