Madam President, I ask unanimous consent that the order for the quorum call be rescinded. Madam President, this past Saturday, I got to spend the whole morning with the East Central Kansas Model T Club back home. I even got to take a joy…
Madam President, I ask unanimous consent that the order for the quorum call be rescinded.
Madam President, this past Saturday, I got to spend the whole morning with the East Central Kansas Model T Club back home. I even got to take a joy ride in a 1921 Model T. Among many stories, I learned Americans were paying only 21 cents a gallon when this car was made. And it wasn't until 1975, 54 years later, that gas had doubled from that price, jumping from 39 to 53 cents--54 years it took to double.
I don't have to remind anyone that, thanks to our President's energy policies and his reckless spending, he accomplished a doubling in less than 2 years. As we all know, gas is now over $5 a gallon, if you can believe it or not. We are seeing record prices that have gone now 16 days in a row without a single downtick.
And this is why I am here today to ask for unanimous consent to pass the Gas Prices Relief Act, which would bar any Federal agency from finalizing any rule or regulation that would make it harder to produce American fuels.
My legislation would send the right signal to American producers and investors. It would show them that the Congress sees the problem and that we are ready to address it. It would set us on a course to bring down prices at the pump, not with more reckless spending and more regulations, but by getting out of the way of American production and allowing them to power the world without more needlessly restrictive rules.
With this more than doubling of price, many families back home are telling me they are paying $50, up to $100 a week more for gasoline. And that is $2- to $400 a month, in case you are adding it up. And on top of that, their monthly utility bills have doubled.
I am sure this administration will propose more reckless spending to fix that problem, too. Unfortunately, Biden-flation is impacting many Kansas families to the tune of $6- to $700 a month. That is over $7,000 a year.
Now, why the increase, you might ask. Now, I am not an economist, but it looks to me like if you increase the regulations on a process, on a business, that is a surefire way to decrease the
supply. And as we all know, our President and his policies are ramping up regulations at every step of the American oil and gas business, all the while begging for help from other nations. Indeed, he is fulfilling his campaign promises to destroy American oil and gas.
Now, one more thought. As history teaches us, along with reckless spending, energy is always a leading indicator of inflation. If we don't get our arms around this energy crisis and reckless spending, we will never slow down inflation. But it appears our President and his party disagree with this, or else, simply stated, they don't care. Or maybe they want these high prices. It just seems like yesterday I was filling my truck up back home for less than $2 a gallon, and now, again, it is over $5 a gallon across most of the Nation.
Rising energy prices add inflationary pressure to everything. It is like a game of dominoes. When the diesel fuel powering our 18-wheelers are costing truckers 80 percent more than it did last year, they are going to have to pass on that rate to their consumers. When businesses are paying 30 percent more for their gas utilities, they are going to have to raise their prices to make up the difference. And Kansans, already paying more just to get to the store, are continually finding that what money they have left is getting them less and less every week.
You don't fix a supply-and-demand problem of this nature with price controls or artificial subsidies or more reckless spending. In reality, this is not very complicated. You could fix it by decreasing demand or increasing supply. Now, demand, unfortunately, is not decreasing, which is why we need this regulatory holiday in order to set American energy free.
On some level, the administration knows this and, hence, their knee- jerk decision to release a million barrels of oil from our Strategic Petroleum Reserve every day, reportedly without initially coordinating in a meaningful way with our partners overseas. Obviously, 1 million barrels a day won't cut it. In 2021, the United States consumed roughly nearly 20 million barrels a day. This release is truly a drop in the bucket.
The administration knows that the Strategic Petroleum Reserve releases are purely cosmetic, to try to convince the American people that they have solutions while they run off to beg foreign dictators and terrorists to produce more oil. Instead of looking within, instead of creating more Americans jobs, high-paying jobs, producing the cleanest fuel in the world, they continue their full frontal assault on American production and seek to enrich our enemies, like Venezuela and Iran.
But there has been a lot of talk on the left that they are not interfering with oil and gas production in the United States. These claims are simply untrue. On the campaign trail, President Biden promised to end the leasing of oil and gas production on Federal lands, and his climate czar recently said the administration ``remains absolutely committed to not moving forward with additional drilling on public lands.'' Most Presidents brag when they fulfill a campaign promise but apparently not when the results are this bad.
It is hard to imagine that this is not all by design. This administration is getting exactly what they want. In the President's own words, the world is currently going through an ``incredible transition,'' and he thinks we will ``be stronger and the world will be stronger and less reliant on fossil fuels when this is over.''
Well, the obvious question then is this: When--when will it be over? The Department of Energy has estimated that demand for oil and gas will increase through 2050. That is a simple fact. Yet we have a President who is perfectly willing to inflict pain on the people who elected him to force his climate policies--his costly climate policies--and ignore the economic reality that the American people are facing.
Now, why else would he propose a budget that gets rid of key tax provisions for the oil and gas industry? Why else would he promote policies that will make it more difficult and more expensive to drill? Does anyone think these policies are going to help the American people?
Let's talk about the stream of bad policies causing the crippling uncertainty that is making American producers hesitant to increase drilling.
Last November, the EPA started the process of updating methane regulations. While the proposed rule they put forward was criminally devoid of any details, their intent was clear: an increase in costly regulations that will harm the oil and national gas industry, run small businesses out of business, and further increase energy costs.
On February 18, by a completely partisan vote, FERC issued and made immediately effective two new policy statements that would have had disastrous implications for pipeline development in the U.S., pipelines critical to getting that oil to American consumers. Their off-the-deep- end proposal would have potentially put pipeline operators on the hook for mitigating the emissions of the end user of the product they transport. In other words, to get approval to build a pipeline, operators could have been forced to develop and pay for a way to mitigate the emissions caused by Americans driving to work every day or perhaps by Americans heating their homes or cooking their breakfast. Thankfully, in the face of fierce outcry from opponents on both sides of the aisle, they have temporarily pulled these changes back for further consideration. Though, that likely has more to do with the upcoming nomination process--the renomination process--for FERC Chairman Glick than it does with good energy policy.
On March 21, the SEC followed suit and proposed a rule that would require companies to disclose climate emission data, including greenhouse emissions, caused by their suppliers and their customers. This would require companies to calculate and disclose the emissions for how everyday Americans use their products, all in an effort to make doing business with American oil and gas producers seem even more risky and less deserving of financing.
And, finally, an issue that is at the top of mind of many producers in Kansas right now, the Fish and Wildlife Service is poised to list the lesser prairie-chicken as a threatened species. This is despite the incredible work being done by conservationists that have made the lesser prairie-chicken better protected now than ever. If the Fish and Wildlife Service goes through with this classification, it would have serious consequences for oil and gas producers in Kansas and severely limit their ability to increase production, not to mention the impact it will have on our utilities.
Once again, let me state, these reasons and more are why I am here today to ask unanimous consent to pass the Gas Prices Relief Act, which would bar any Federal agency from finalizing any rule regulation that would make it harder to produce American fuels. Our legislation would send the right signal to American producers and investors. It would show them that Congress sees the problem and that we are ready to address it. It would set us on course to bring down prices at the pump by getting out of the way and releasing American production and allowing them to power the world without more needlessly restrictive rules and regulations. Good energy policy will fix the current crisis, not more reckless spending.
Before I yield, I would like to turn the floor over to the Senator from Montana for his thoughts on the record gas prices we are facing and the need to pass our Gas Price Relief Act.
Madam President, I would like to ask unanimous consent that the Committee on Energy and Natural Resources be discharged from further consideration of S. 3986 and the Senate proceed to its immediate consideration.
I further ask that the bill be considered read a third time and passed and that the motion to reconsider be made and laid upon the table.
Reserving the right to object.
Madam President, I think we should start calling electric cars coal-powered cars. We should start thinking about a cradle-to-grave environmental impact to some of the alternatives, but I want to reassure to my colleague, the folks on the other side of the aisle, that I want to leave this world cleaner, healthier, and safer than we found it.
But on the other hand, we can't create such high inflation with reckless
spending and energy policies that stifle American energy. I do believe that there is a balance. I do believe that there are opportunities, but we can't go from zero to 90 miles an hour overnight, nor can we throw the brakes on our current energy supply.
I grew up in the oil patch. I lived in the oil patch. The prices of oil are being driven up by the uncertainty created by this administration. Make no mistake about it, the price of oil is people who are thinking about investing, what will they get 2 years from now? It would take 2 years probably to see any type of return on investment from an oilfield exploration.
But this President and his policies, his regulations continue to create uncertainty and drive the price up for all Americans.
Just the thought of $5-a-gallon gasoline makes my heart shiver. The people I talk to back home, there is no conversation I am going to have without someone bringing up the price of gasoline right now.
And I am so proud that we are taking traditional energies, and we are making them cleaner; that we are using biofuels to help decrease the tailpipe emissions through E15 year round and higher ethanol as well. I am proud of the biodiesel that we are using as well.
I think that there are incredible opportunities out there, but inflation, reckless spending inflation, driving up the price of gasoline very purposefully is what this President has accomplished, and it is hurting people back home.
I yield the floor.
So I object to Senator Whitehouse.
Yes, I specifically object to the motion. My apologies.