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Floor Speech

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Mr. HOEVEN. Mr. President, I come to the floor today to discuss how consumers are paying more for less reliable energy as a result of the policies of the Biden administration and congressional Democrats. North Dakotans are paying 60 percent more for gasoline since January of 2021, and diesel remains at nearly $5 a gallon.

Prices are high because we have a supply problem. Our friends and allies in Europe are facing an even worse supply crisis, and unless the Biden administration changes its approach, American families and businesses will continue to face these inflationary pressures.

Fortunately, the solution is clear. More energy supply means consumers pay less. More supply is what helps us get prices under control, get inflation under control, and consumers relief.

In 2019, the United States was producing nearly 13 million barrels of oil a day. Today, that production is down at about 11.8 million barrels a day. That is because the policies of the Democrats in Congress and the Biden administration include blocking energy production on Federal lands, and that is curtailing supply. Our vast supply of taxpayer-owned oil, gas, and coal resources on Federal lands are a national strategic asset. Yet President Biden and his ``keep it in the ground'' allies treat our NG reserves as a liability.

Recent analysis by the Wall Street Journal shows that the Biden administration leased only 130,000 acres for new oil and gas production in the first 19 months of this administration. Let me repeat that number. The Biden administration has only leased 130,000 acres for new oil and gas production in its first 19 months. For comparison, President Reagan leased 47.6 million acres during the same time period. The Biden administration, in just under 2 years, leased 130,000 acres. The Reagan administration leased 47.6 million acres during the same amount of time.

That is the point. We need to take the handcuffs off our producers if we are going to produce more energy here at home. And nobody produces energy better, more cost effectively, more dependably, and with better environmental stewardship than America. We do the best job of anybody in the world. New energy leases are needed to grow oil production and supplies for the long-term, otherwise production will continue to fall, and that means higher energy costs for our consumers.

Instead of defending previously held lease sales, the Biden administration is relying on litigation from environmental allies to block permits needed for energy development. That only further increases our reliance on adversaries like Russia, Iran, and Venezuela, countries with little or no regard for environmental stewardship or human rights. They are our adversaries. How in the world can we put ourselves subject to their energy production? Energy production is part of national security. Energy security is national security.

Natural gas prices also remain high and families are being hit with higher utility bills. Electricity prices are up nearly 16 percent compared to last year. As we approach the winter months, natural gas bills are up 33 percent over the same period, and with winter coming on, they are going to go up more.

The Biden administration's policies are undermining our energy security, and because the cost of energy is built into our entire economy, inflation has been driven to record heights. Everything you buy has an energy component in it. When energy costs go up because the administration won't let us produce more here at home, it causes inflation in everything you buy--everything you buy, not just at the gas station but in the grocery store or anywhere else because of the energy component.

Despite these challenges, President Biden and congressional Democrats doubled down by passing their partisan tax-and-spend bill that will make it more expensive to produce energy in the United States. The bill includes a new tax on natural gas. That doesn't make energy cheaper; that makes it more expensive. The bill includes a new tax on natural gas and also makes oil and gas production on Federal lands more expensive through higher fees and royalty rates. So they are driving up the cost of energy.

In addition to levying $739 billion in new taxes on hard-working families, the bill was loaded with $370 billion in Green New Deal spending. Instead of tax hikes and wasteful spending, President Biden needs to take the handcuffs off our domestic energy production. Instead of higher taxes and fees, more mandates, and less energy development, we need to take the handcuffs off our domestic energy producers to lower energy costs and help reduce the burden of inflation, which harms every American but particularly those low-income Americans who are struggling with the higher cost of everything from putting food on the table to gas at the pump, to anything and everything they buy. We need to change this policy direction, and it needs to happen now.

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