ICYMI: Kennedy: Gas prices soaring because Biden admin trying to bankrupt American oil and gas industry
May 18 2022
Watch Kennedy’s remarks here.
WASHINGTON – Sen. John Kennedy (R-La.) today addressed the record high Louisiana gas prices that President Biden’s policies have caused. Key excerpts from his remarks are below:
“It is a serious problem for lower-middle income and poor Americans. . . . For our less fortunate Americans, it’s a choice between filling up their car or paying their rent or buying their food.
“It’s no mystery why we’re having this inflation in gasoline. When your demand remains constant or it increases, and your supply shrinks, you’re going to see price increases every single time.
“Why is supply shrinking? Well, I think the main reason—there are other reasons—but I think the main reason has to do with President Biden’s energy policy. We know now, after 14 months, that President Biden’s energy policy is wind, solar and wishful thinking. The American economy is the most powerful economy in all of human history. It can’t run without energy. Eighty percent of our energy comes from fossil fuels.”
. . .
“Markets are forward looking. The price of gasoline today, and the price of oil and natural gas, also reflects what people who produce the product and who buy the product think about the future, and there’s no question that they look ahead under the Biden administration and see that they expect the Biden administration to continue to do everything it can to bankrupt the oil and gas industry.”
. . .
“The president says: ‘I’m not against oil and gas.’ All you have to do is look at his proposed new rules for the National Environmental Policy Act, the proposed rules for NEPA. Take a good look at a pipeline because you won’t see another one in America if these rules pass.”
View Kennedy’s complete remarks here.