The
Russian military is now waging a full-scale war on the nation and people of
Ukraine.
The
Ukrainian military and civilians are fighting for their homes and independence.
They have our moral support and some of our weapons.
I
wish we had gotten them more defensive weapons before this invasion, and I
still think there is more we can do.
I
am an original cosponsor of the NYET Act,
which literally says “no” to Russian aggression with tough, targeted sanctions
and support for Ukrainian resistance efforts even if that turns into a guerilla
war. We should still pass it.
Russia
is a major oil and gas producer so Putin’s actions are hurting not just
Ukrainian and Russian citizens, but Americans as well.
This
situation comes at the same time Americans across the country are already
paying more for gas than at any time since 2014 according to AAA data.
Last
night, I was encouraged to hear President Biden pledge to use, “Every tool at
our disposal” to limit gas price hikes after he imposed new sanctions on
Russia.
It’s
time for Congress and the White House to rethink policies that threaten our
energy independence and national security.
That’s
why already this week, I have helped to introduce the American Energy Independence Act with Senator Hawley that would
reverse the President’s shutdown of the energy sector and return to full
production.
Last
night, the President talked about buying American products. Yet, it seems like
oil and natural gas, major components of the economy, were excluded from his
rhetoric.
When
it comes to oil, the U.S. imports nearly 700,000 barrels a day from Russia.
That’s
why I introduced legislation yesterday with Senator Marshall that would ban
purchases of Russian oil.
I
am also backing a new bill by Senator Rubio to make American oil companies
sever ties with Russian state-owned oil and gas companies, as many already
have.
I
support harsh sanctions that hit Putin where it hurts. But, we ought to free
the world from Russian energy blackmail and keep gas affordable at home with
American produced energy.
Some
of my colleagues are looking to lower prices at the pump by pushing for a gas
tax freeze.
This
would be a short-term, unsustainable move that would blow a hole in the highway
trust fund.
Instead,
I hope colleagues on both sides of the aisle can work with the President to
reverse decisions that have increased the price of domestic fuel production.
On
his first day in office, President Biden decided to shut down the Keystone
Pipeline. President Biden should restart and expedite the Keystone Pipeline.
Also
in January 2021, Biden issued an EO pausing new oil and gas leases on public
lands and federal waters.
In
July 2021, the Interior Department halted all oil drilling on leased land
within the Arctic National Wildlife Refuge.
These
actions signal to capital investors that the heavy hand of the federal
government will work against fossil fuels investments at every turn.
This
hostile regulatory environment has crippled investment in fossil fuels, which
in turn has raised fuel costs.
Instead
of more red tape, the President and Congress should work to cut regulations and
federal permitting that slow down domestic energy production.
We
were energy independent. Now we are energy dependent.
Policies
that encourage investments in fossil fuel production will increase domestic
production and lower gas prices.
But
instead of focusing on domestic energy independence, last fall, President Biden
asked OPEC to pump more oil.
The
OPEC Cartel did not honor the request.
In
2000, then-Senator Biden acknowledged that anti-competitive behavior from OPEC
harms American consumers and called on President Clinton to consider legal
action against OPEC.
OPEC
is an organization, which blatantly colludes to raise the price of oil.
I
have introduced the bipartisan No Oil
Producing and Exporting Cartels (NOPEC) Act, which would allow the
Department of Justice to hold OPEC accountable for its anticompetitive behavior
that artificially inflates global oil prices.
I
ask again for the Biden Administration to publicly support the passage of NOPEC and work with Congress to pass
this legislation into law.
Besides
focusing on fossil fuel production, we know that ethanol makes up 10 percent of
gas sold in the United States.
When
oil prices are high, it gives higher blends of ethanol a clear competitive
advantage.
Historically,
gas prices gradually rise in the spring and peak in late summer when people are
driving more frequently.
But
last fall, the courts rejected EPA’s regulation allowing for year-round E15
sales.
Congress
must move quickly to ensure E15 can be sold this summer.
E15
is a cleaner, higher octane type of gasoline that contains more homegrown ethanol
and less petroleum.
Both
biodiesel and ethanol are proven domestic supplies of fuel that enhance our
energy independence and lower greenhouse gas emissions.
Domestic
biofuel producers are ready to step up and give consumers lower gas prices that
increase our national security and provide jobs in the heartland.
Most
Americans do not care where the oil was produced when they fill up their gas
tanks.
They
just want to fill up their tanks without taking out a loan.
But
when conflict occurs in oil-producing regions of the world, Americans quickly
realize the importance of your gas being a mix of West Texas Crude and Iowa
ethanol.
In
just over one year, we can see how the U.S. is losing energy independence.
Instead
of focusing on domestic fuel production, the President and his Administration
have caved to the most radical environmentalists in shaping our energy policy.
It
is time to reverse course.
I
am taking the President at his word when he says he wants to use every tool at
his disposal to limit gas price hikes.
