On Tuesday, while announcing that he would ban oil exports from Russia, President Biden insisted, “It’s simply not true that my administration or policies are holding back domestic energy production. That’s simply not true.”
Later, he blamed the rise in Americans’ gas prices on Russia’s invasion of Ukraine, saying: “The decision today is not without cost here at home. Putin’s war is already hurting American families at the gas pump. Since Putin began his military buildup on Ukrainian borders, just since then, the price at the gas pump in America went up 75 cents and with this action, it’s going to go up further.”
“I’m going to do everything I can to minimize Putin’s price hike here at home,” he boasted. “In coordination with our partners we have already announced we are releasing 60 million barrels of oil from our joint oil reserves. Half of that, 30 million, is coming from the United States. And we’re taking steps to ensure the reliable supply of global energy. And we’re also going to keep working with every tool at our disposal to protest American families and businesses.”
He warned American oil and gas companies: “Let me say this, to the oil and gas companies and to the finance firms that back them: We understand Putin’s war against the people of Ukraine is causing prices to rise. We get that. That’s self-evident. But. But. But. But. That’s no excuse to exercise excessive price increases or padding profits, or any kind of effort to exploit the situation or American consumers, exploit them. Russia’s aggression is costing us all and it’s no time for profiteering or price gouging.”
“I want to be clear about what we’ll not tolerate, but I also want to acknowledge those firms and oil and gas industries that are pulling out of Russia and joining other businesses that are leading by example,” he said. “This is a time when we have to do our part and make sure that we’re not taking advantage.”
Then he made his claim about “holding back domestic energy production”:
Look, let me be clear about two other points. First, it’s simply not true that my administration or policies are holding back domestic energy production. That’s simply not true. Even amid the pandemic, companies in the United States pumped more oil during my first year in office than they did during my predecessor’s first year. We’re approaching record levels of oil and gas production in the United States and we’re on track to set a record for oil production next year.
In the United States, 90 percent of on-shore oil production takes place on land that isn’t owned by the federal government. And of the remaining 10 percent that occurs on federal land, the oil and gas industry has millions of acres leased, they have 9,000 permits to drill now, they could be drilling right now, yesterday, last week, last year, they have 9,000 to drill on-shore that are already approved. Let me be clear, they are not using them for production now.
“These are the facts,” he claimed. “We should be honest about the facts.”
The New York Times reported on February 22: “The Biden administration is indefinitely freezing decisions about new federal oil and gas drilling as part of a legal brawl with Republican-led states that could significantly impact President Biden’s plans to tackle climate change. … When he first took office, Mr. Biden suspended new federal oil and gas leases.”
He turned to his administration’s focus on electric vehicles and “clean energy,” saying, “Second, this crisis is a stark reminder that to protect our economy over the long term, we need to become energy independent. I’ve had numerous conversations over the last three months with our European friends about how they have to wean themselves off of Russian oil. It’s just not tenable. It should motivate us to accelerate a transition to clean energy. This is a perspective that we and our European allies share. And a future where together we can achieve greater independence. Loosening environmental regulations or pulling back clean energy investment won’t. Let me explain: won’t, will not, lower energy prices for families. But transforming our economy to run on electric vehicles, powered by clean energy with tax credits to help American families winterize their homes and use less energy, that will help.”
He declared. “And if can, if we do what we can, it will mean that no one has to worry about the price at gas pump in the future.”