Ted Cruz explained in detail that the energy problem was not caused by Russian President Putin, but rather President Joe Biden himself.
He began with a Biden quote: “No more drilling on federal lands. No more drilling, including offshore. No ability for the oil industry to continue to drill, PERIOD. Ends.”
Then he went through the actions Biden took to kill our energy sector. It’s a nice summary.
- On his first day in office, Biden canceled the Keystone Pipeline.
- One week later, he halted all oil and gas lease sales. He halted development on that part of the economy which produces 24% of America’s energy.
- On May 7th, Biden’s interior department announced plans to prohibiting oil and gas production on 30% of US federal lands.
- Then on June 1st, Biden revoked leases on the north slopes of Alaska. That amounts to 16 billion barrels of oil stranded.
- October 7th came and Biden ended Trump-era streamlining of regulations.
- On October 29th, Biden’s interior department began using the “social cost of carbon” in permitting. This has never been done. It’s vague and unprovable and only meant to destroy the fossil fuel industry.
- March 21 2022: Biden’s SEC announced a new regulation aimed at reducing investment in oil and gas, cutting off capital for drilling.
Cruz explained that Biden waged a war on supply, causing prices to soar. Even now, when we need it most, the Build Back Better President will not allow more drilling.
Sen. Ted Cruz: “The Biden administration’s assault on oil & gas production began during his campaign when he pledged during the debate… ‘No more drilling on federal lands. No more drilling, including offshore. No ability for the oil industry to continue to drill, period. Ends.’” pic.twitter.com/MUvsAVA8nt
— Steve Guest (@SteveGuest) April 5, 2022