FIRST ON FOX: America’s energy future is ‘threatened’ by Biden administration policies that ‘hamper the growth of domestic energy production’ and result in higher costs for Americans, according to a report from the Committee on Oversight and Protection responsibility of the House of Representatives.
Titled “The Biden Administration’s Green New Deal: Paying More for a Darker Future,” the report released Thursday aims to show that the administration’s energy policies have led to higher gas prices, uncertainty in the U.S. power sector, confusion over new cars and appliances, and costly regulatory hurdles that have driven up costs for U.S. consumers and businesses.
The 32-page report, first obtained by Fox News Digital and ahead of Energy Sec. Jennifer Granholm’s appearance before the House Oversight Committee calls out the Biden administration for its “short-sighted energy policies” and what she describes as a failure “to recognize the potential of American energy.”
“The administration claims to be pursuing policies to increase electrification while thwarting the growth potential of electricity producers needed to support these initiatives. Permitting challenges threaten access to resources and bringing new power generation infrastructure online. And massive, costly new regulations are stifling innovation and growth. ” the report states. “This report details major problems facing critical sectors of the U.S. economy, exacerbated by the Biden administration’s short-sighted energy policies and the resulting impacts on U.S. businesses and consumers .”
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From left to right: Energy Sec. Jennifer Granholm, House Oversight Chairman James Comer, and President Biden. (Getty Images)
House Oversight Chairman James Comer, R-Ky., said the Biden administration has “weaponized” the executive branch to “wage a war on” domestic energy production.
“The Biden administration has used the power of the executive branch as a weapon to wage war on American-made energy production and implement radical, far-left energy policies that endanger national energy development , overload the U.S. power grid and increase costs for all U.S. consumers and businesses,” Comer told Fox News Digital.
“From day one, the House Oversight Committee has worked to expose the Biden administration’s radical climate agenda,” he added. “The Committee will continue to uphold its responsibility to hold this administration accountable for its harmful Green New Deal policies that impact Americans across the country.”
The report first highlights an increase in gas prices since 2019. Placing blame on the Biden administration, the report claims that the Biden administration contributed to the rise in gas prices “through rising production costs and transport, costly regulatory measures and manipulation of supply. thereby ceding America’s energy potential and harming consumer purchasing power simply to curry favor with radical climate activists. »
Citing AAA National Gas Averages data, the report describes how gas prices have skyrocketed compared to when former President Donald Trump was in the White House.
Citing AAA National Gas Averages data, the report describes how gas prices have skyrocketed since former President Donald Trump’s time in the White House. (Roberto Machado Noa/LightRocket via Getty Images)
“Gas prices were $2.39 per gallon the day after President Biden took office on January 20, 2021. On February 25, 2022, the day after Russia invaded Ukraine, the The national average for a gallon of gasoline had already reached $3.57, indicating that gas prices were already sky-high and rising under the Biden administration despite President Biden’s protests that Russia was solely responsible for the inflation of national fuels. On June 14, 2022, national average gas prices reached an all-time high, along with the price of a fuel. gallon of regular unleaded gasoline reaching $5.016,” the report said.
The report adds: “When President Trump took office in January 2017, the average price of gasoline was $2.47 per gallon. The average for his entire four-year term was only slightly higher, at $2.57. According to the United States Energy Information Administration, retail gasoline prices have never exceeded $3,039 as a weekly average throughout the Trump presidency.
The report also takes aim at Biden’s “ill-advised actions” related to gas prices, insisting that “he sought to abuse government resources – such as the Strategic Oil Reserve – to manipulate gas prices in the short term in order to to avoid political reactions.
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The report also highlights rising electricity prices, which it says has led to a less stable power grid.
“The Bureau of Labor Statistics reported that over the past year, electricity prices have increased faster than the rate of inflation and more than any other commodity. Large-scale electrification initiatives, such as for electric vehicles (EVs) in the automotive sector, The use of artificial intelligence, huge data center expansions, and federal incentives for land-based manufacturing in the industrial sector have significantly increased demand on our nation’s power grid,” the report said.
The watchdog report highlighted how the Biden administration is imposing “stricter energy requirements” on several products like gas stoves, light bulbs, dishwashers, clothes dryers, washing machines and refrigerators. (Jakub Porzycki/NurPhoto via Getty Images)
“Even as usage efficiency improves, the U.S. Energy Information Administration projects that demand for utility-generated electricity in the United States will continue to grow at an average annual rate of one percent. hundred until 2050,” the report adds.
The report also highlights the Biden administration’s efforts to eliminate consumer choice, highlighting an executive order implemented by the president with a goal that “50% of all new passenger cars and light trucks sold in 2030 will be vehicles zero emissions, including battery electric vehicles.” plug-in hybrid or fuel cell electric vehicles.
“Electric vehicles accounted for approximately 7.6% of U.S. auto sales in 2023, but remain an even smaller percentage of all cars on the road nationally. Stricter emissions standards – the “most ambitious pollution standards ever set for cars and trucks” – implemented by President Biden’s EPA. seek to fundamentally restructure the automotive market to favor electric vehicles,” the report said.
The report also highlights how the Biden administration is imposing “stricter energy requirements” on several products like gas stoves, light bulbs, dishwashers, dryers, washing machines and refrigerators.
Finally, the report targets the Biden administration for waging a “‘whole-of-government’” regulatory explosion with substantial compliance costs for businesses and consumers.
Energy Sec. Jennifer Granholm is expected to testify before the House Oversight Committee on Thursday. (Alex Wong/Getty Images)
“Across all agencies, the Biden Administration has already imposed more than $1 trillion in additional regulatory costs and added millions of hours of new annual administrative requirements,” the committee report notes.
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“As the regulatory onslaught intensifies, those hardest hit are low-income communities through rising electricity prices and vehicle costs, and people on fixed savings-based incomes or investments – such as retirees – through climate disclosure mandates and environmental, social and governance (ESG) rules suppressing returns,” the report continues. “As businesses pass on their tax obligations to consumers, regulatory compliance constitutes an additional ‘hidden tax’ that impacts both consumer prices and wages.”
“Forcing more resources to address an ever-increasing and complex regulatory burden diverts time and money from growing businesses and promoting economic mobility,” he adds.
Liz Elkind of Fox News contributed to this report.