By Stephen Moore, TIPP Insights
Most Americans – over 60% — continue to support U.S. energy independence, and in fact, they support drilling on federal lands to achieve that goal.
That includes fracking, which came under attack early during then-candidate Joseph Biden’s campaign. Since his first day in office, President Biden has made good on his vow to eliminate domestic energy production or has tried to.
Gas prices have risen dramatically since last year, and all Americans are feeling pain at the pump.
Now, under the crushing weight of rising inflation and gas prices at home and abroad, a majority supports an “all of the above” approach to energy production, which includes oil, gas, wind, solar, and nuclear.
Yet the Biden administration continues to stymy U.S. energy production, trapping America’s rich energy reserves with bureaucratic red tape.
These actions, coupled with unprecedented federal spending, will ultimately bankrupt the country.
The idea that we are going to eliminate fossil fuels is a pipe dream. Nor should we, given the fact that American energy production is the cleanest and safest in the world. Exporting American energy could go a long way toward helping friends and allies in hostile regions in the world.
The truth is, we’re not going to go from 70% fossil fuels down to zero in the next 15 years, or else we will bankrupt our country.
President Biden needs to get with the “program.”
Even electric cars are going to require the use of fossil fuels in generating electricity.
And they are expensive.
At a time of escalating inflation, it is delusional to expect working families to pay $55,000 for an electric vehicle.
Despite their protests to the contrary, Democrats’ short-sighted efforts to strangle the U.S. energy sector is producing 1.2 million fewer barrels a day in oil than it did at peak under the last president.
With oil at $100 a barrel, that’s $120 million in lost U.S. income every day.
It also leaves the U.S. importing from Russia — and other hostile regimes.
Renewed U.S. production will provide good jobs, lower gas prices, and help slow roaring inflation.
Not only should America regain its energy independence, but America should also be the energy-dominant country in the world.
American energy independence is the key to a prosperous U.S. economy, our national security, and to peace and stability around the world.
Stephen Moore is a co-founder of the Committee to Unleash Prosperity. He served as a member of President Trump’s economic recovery task force.
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