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President Joe Biden has put forward a series of policies and executive measures to reduce gasoline prices, but has not yet supported increasing domestic oil production.
The president called on Wednesday to pass a three-month gas tax holiday that would reduce pump prices by 18 cents per gallon and diesel fuel prices by 24 cents per gallon. According to AAA data, pushing a temporary gas tax break is Biden’s latest attempt to address gasoline prices, which are at an all-time high.
“President Biden understands that the gas tax holiday, on its own, will not cover the costs we have seen,” the White House said in a statement. “But in this unique moment when the war in Ukraine is placing costs on American families, the president believes what Congress needs to do to provide breathing room for working families.”
Amid environmental protests, the Biden administration again delays the sale of oil and gas leases
In recent months, Biden has ordered three separate releases from the Strategic Petroleum Reserve and issued a waiver allowing the sale of gas with higher biofuel concentrations as prices skyrocketed. The president last week warned oil companies to take action if petroleum refining capacity is not increased.
The White House is reported to have weighed the fuel export ban and the gas concession program.
However, the Biden administration has simultaneously doubled its climate program, canceled the sale of multiple oil and gas leases, revoked the Keystone XL pipeline license and begged Middle Eastern producers to increase production.
Biden’s move to suspend gas tax from president of Oil and Gas Association criticized as ‘serious’ solution
“It’s the gimmick of the election year,” Daniel Turner, executive director of power group Power the Future, said in an interview with Fox News Digital about a potential gas tax holiday. “It has nothing to do with the energy industry. It has nothing to do with taxes as a whole.”
“The Biden administration is following this green agenda at all costs and every accident – be it the American economy, the financial security of American families – is the casualties necessary in this war and they are comfortable with the casualties,” Turner continued. “So, again, these are Band-Aid solutions that are meant to distract people, to distract voters, and to show that he’s involved and doing something.”
In its Wednesday announcement, the White House noted that oil production was on the rise, but said efforts to increase drilling “should be combined with medium and long-term efforts to keep our economy away from the fossil fuels it generates and clean up energy.”
According to the latest information from the Energy Information Administration, the US produced 12 million barrels of crude per day for the week ended June 10. In comparison, domestic drillers produced 13.1 million barrels per day by March 2020.
Biden is calling on Congress to pause the gas tax for three months
“They’ve closed the pipelines, they’ve stopped leasing. The administration is acting like nobody is paying attention to the fact that it’s difficult to produce where they can,” senior colleague Dan Kish said in an interview with the Institute for Energy Research, Fox News.
“Somehow, gasoline prices are going up and people are pretending to be surprised that they are hurting at the pump,” he said.
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The White House did not immediately respond to a request for comment.