Latta Calls on Biden Administration to Reverse Course and Unleash North American Energy Production
Today, Congressman Bob Latta (R-OH5) took to the floor of the U.S. House of Representatives to call on the Biden Administration to reverse course and unleash North American energy production. The Congressman was speaking on H.R. 7688, legislation authored by House Democrats that they claim addresses high energy prices, but could lead to price setting and energy shortages. The bill passed the House despite bipartisan opposition. Latta’s full remarks can be found here and below:
Madame Speaker, I rise in opposition to H.R. 7688.
This bill would task the FTC to act as the arbiter for determining if price gouging is occurring and then reset the prices, never mind the fact that the FTC has investigated gas prices for decades and has never determined that gouging is the reason for price fluctuations.
Since day one, President Biden has made every effort to undermine, avoid, and restrict oil and gas production in North America. He canceled the Keystone XL pipeline, which would have transported 830,000 barrels of oil every day from Canada into the United States. He put a moratorium on leases for oil and gas exploration on federal lands, as he said he would do during the 2020 campaign. And, he has used the SEC to impose new climate regulations on investments, which has made it undesirable for individuals or companies to invest in the fossil fuel industry.
And what was the result? My constituents in Ohio are currently paying the highest prices they have ever paid at the pump. There is no doubt in my mind that these prices would be even higher if Democrats like the Governor of Michigan had her way and the operation of the Line 5 pipeline in the upper Midwest was shut down.
As the crisis continued, the President’s answer was to raid the Strategic Petroleum Reserve. Since he announced this plan, the average price of gas has gone from $4.22 to $4.57.
Instead of taking responsibility, President Biden has worked with House Democrats to again shift the blame through this legislation.
Clearly, his Administration’s anti-North American energy agenda has failed the American people and resulted in more money being taken out of their pockets.
I urge my colleagues to support legislation like the American Energy Independence from Russia Act, introduced by Republican Leaders Rodgers and Westerman, which will unlock North American energy and provide relief to Americans.
Madame Speaker, I urge a NO vote on this bill and yield back the balance of my time.###