Heading into winter, Senators give Biden solutions to help American people amid rising costs
WASHINGTON D.C. – Senator Cynthia Lummis (R-WY) joined 18 of her Republican colleagues in sending a letter to President Biden with actions the Administration can take to help address surging energy prices in Wyoming and the rest of the country heading into the cold winter season. Potential solutions include lifting a ban on new oil and gas leasing and drilling on federal land, and allowing the Federal Energy Regulatory Commission (FERC) and U.S. Army Corps of Engineers to approve pipeline projects.
“In Wyoming, we are paying over a dollar more per gallon at the gas pump. This is already hurting Wyoming workers and families, and it’s going to cause a lot more pain as we heat our homes this winter,” said Senator Lummis. “It’s time for President Biden to focus on the real issues facing Americans – issues like rising inflation and supply chain disruptions that are doing real damage across the country.”
In the letter, the senators wrote, “even before colder temperatures set in, natural gas inventories around the nation are 5.5% below the five-year average, and demand has ramped up as the economy continues to recover. Due to lower supply and higher demand, natural gas prices are more than 250% higher than they were this time last year and the Energy Information Agency (EIA) expects natural gas prices to climb even higher this winter due to supply projections.”
“After numerous conversations over the last year with domestic energy producers, the number one reason they cite for these higher and increasing prices is depressed investment in our production due to regulatory uncertainty,” the senators continued. “Business leaders are reluctant to make complex, long-term investments in expensive new wells, pipelines, and other infrastructure critical to increasing production and keeping American energy prices low if these projects will be delayed or overly burdened by new, expansive regulations or taxes.”
Read the full letter here.
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