WASHINGTON – Sen. John Kennedy (R-La.) joined Sen. Cynthia Lummis (R-Wyo.) in introducing the Protecting our Wealth of Energy Resources (POWER) Act. The POWER Act prevents President Biden and members of his administration from imposing new bans on oil and gas drilling, leasing and permitting on federal property without Congressional approval.
“The Biden Ban on new oil and gas leasing will cost America tens of thousands of jobs, many of them in Louisiana. The energy industry is the lifeblood of our state, and we can’t afford to sacrifice jobs at a time when Louisianians are still recovering from the pandemic. Since the energy industry funds Louisiana’s conservation efforts, our storm-battered coasts can’t afford the Biden Ban either. We must protect both our jobs and our coasts from Washington’s overreach, and that’s just what the POWER Act will do,” said Kennedy.
“The Biden Ban would be nothing short of catastrophic for western states that are already reeling from the decline in energy usage brought on by the pandemic and continued volatility in energy markets. It’s a one-two punch that means disaster for energy jobs, families and communities. Through the POWER Act, Congress would reiterate that federal lands should serve not the whims of a radical progressive minority, but the needs of all Americans,” said Lummis.
Last week, President Biden announced a ban on new leases for oil and gas drilling on federal property. Louisiana greatly depends on the energy industry for jobs, conservation efforts and hurricane protection, and some estimates say the state could lose up to 48,000 jobs because of the drilling, leasing and permitting moratorium.
On a national level, President Biden’s ban on leasing and drilling is expected to severely damage the economy, costing an estimated $700 billion in GDP over the next decade and around 1 million jobs by 2022.