Biden’s Attack on Fossil Fuels to Be Rolled Back

(BrightPress.org) – On July 11th, two Republican lawmakers introduced a new bill aiming to roll back a Biden administration policy that made it pricier for companies to develop oil and gas on public lands. Reps. Andy Ogles from Tennessee and August Pfluger from Texas are behind the “Declaration of Energy Independence Act,” which seeks to undo increases in royalty rates for onshore oil and gas leases set by the Inflation Reduction Act (IRA), President Joe Biden’s major climate initiative.

The IRA raised the royalty rates for onshore oil and gas leases from 12.5% to 16.67%, which made it costlier for companies to drill for oil and gas on federal lands. The new bill would lower these rates back to what they were before the IRA, as stated in the bill’s text.

Pfluger argued that this bill is crucial for maintaining American energy independence. He criticized the Inflation Reduction Act for imposing steep royalty increases and said that these hikes threaten energy security and push up costs for consumers. According to Pfluger, restoring the old royalty rates will help promote domestic energy production.

The American Petroleum Institute (API), a major oil and gas trade group, and Heritage Action, a conservative think tank, have both backed the new bill. The API is a key player in the fossil fuel industry, and Heritage Action works to advance conservative policies.

When Biden first took office in 2021, he aimed to impose a drilling moratorium on federal lands. However, a federal court blocked this move. Despite this, Biden’s administration has since worked to restrict oil and gas development on federal lands, including putting limits on land in Alaska.

The fossil fuel industry is working to sway voters with ads that claim Biden plans to ban gas-powered vehicles. Groups like the American Fuel and Petrochemical Manufacturers (AFPM) have spent millions on ads in key swing states, suggesting that Biden’s fuel economy rules are a veiled attempt to ban gas cars.

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