FOX Business host Larry Kudlow explains what Congress should do to restore economic prosperity in America on “Kudlow.”
EXCLUSIVE Power the Future is a leading energy industry group. released a report that it claimed could serve as a roadmap for energy policy for House Republicans if they win majority control of the chamber next January.
This group represents the interests of workers in the energy industry nationwide and outlines 10 priorities for Republicans. It also identifies areas where GOP leadership can conduct oversight and investigate into Biden’s administration policymaking. Power the Future stated that a comprehensive energy agenda is essential to counter the climate policies of President Biden, which have hindered fossil fuel development.
The House was retaken by the Republicans for the first time since January 2019. This victory grants GOP members leadership positions on key committees that approve legislation and provide oversight over federal agencie.
President Biden pursued a bold climate agenda that prioritizes clean power development and restricts fossil fuel production. (AP Photo/Andrew Harnik)
The report stated that “The results from Biden’s green attack on American energy have proven disastrous.” “Gas prices have been steadily rising since Biden was elected, and reached their highest level ever earlier this year, at $5.00 per gallon. Despite some fortuitous drops, gasoline prices remain well above $1-a gallon higher than at the start of the year and 87 cents lower than this time last.
Power the Future’s report outlines 10 priorities. The group urges Republicans to repeal the natural gas tax included in the Democrats’ Inflation Reduction Act, which Biden signed in August. The bill includes a natural gas tax that will make energy producers pay $900 for each ton of methane they emit in 2024, $1200 per ton 2025, and $1,500 per tonne in 2026. This raises federal revenue to $6.5 billion.
The group calls on Republicans to repeal the oil-and-gas leasing moratorium imposed by Biden. They call his record on this issue “simply atrocious.” Although the moratorium was canceled by a federal judge last year, the Biden administration repeatedly delayed selling leases onshore.
According to federal data, domestic oil production has been steady at 12 million barrels per daily under the Biden administration, which is more than one million barrels below its March 2020 pre-pandemic peak.
The report suggested that Congress should pass legislation to end Biden’s illegal lease moratorium and that any future moratorium must be approved by Congress and signed into law by the President.
It should also stipulate a minimum number of quarterly oil and natural gas lease sales. “Applications For Permits to Drill” (APDs), can take effect within 30 days after an application is filed. Federal regulatory authority over hydraulic drilling will be rescinded, with state regulatory regimes deferring to it.
Rep. Kevin McCarthy (R-Calif.) reacts to Republicans taking control of the House over ‘Kudlow.
Power the Future calls upon Congress to approve the KeystoneXL pipeline, which Biden has canceled, to block the president’s financial regulations to curb fossil fuel production and to rescind the federal rule that permits California to set aggressive emission standards. The report also states that Republicans should end “sue-and-settle” lawsuits, which incentivize environmental organizations to file legal challenges to slow down energy development.
The group’s final four recommendations included the following: a Republican-majority House should prohibit the Biden administration’s “social cost carbon” policy, which requires agencies to account for carbon emissions in approving programs; allow automatic approvals for natural gas export terminals; pass a law explicitly stating that the Clean Air Act doesn’t include greenhouse gases; and protect coal power stations from excessive regulations.
The report concluded that “if Congress takes these bold but practical steps to stop Biden’s attack on American Energy, it can restore hope and support for energy workers, consumers and the economy.” There’s no doubt that Biden will veto these actions, but at this point, that’s not the point.
“Passing these ten policy will give a clear contrast to Biden on Energy between two competing visions. One is rooted in allowing market players to produce the cleanest and most reliable energy on the planet. The other, Biden-backed vision favors mandates, control regulations and orders from bureaucrats. These are designed to eliminate fossil fuels and prioritise cronies in green energy, while laughing at the people who must suffer the consequences.