Press "Enter" to skip to content

Biden’s Policies Major Driver in rising Oil Costs said Head of the American Petroleum Institute

The president and CEO of the API (American Petroleum Institute) told Fox News that Biden administration policies are a major reason for rising energy costs, and he voiced concern for customers as the winter months approach.In an interview with Fox News, Mike Sommers said, “Certainly one of the significant issues is that the Biden administration has made an attempt to restrict manufacturing in the United States.”

According to the consumer price index, energy costs increased by 4.8 percent last month and by 30 percent over the previous year. Cutting down the Keystone XL Pipeline, leasing and permits on federal lands, and access to the Arctic National Wildlife Refuge in Alaska, according to the API president, have all had an impact on energy prices. As part of Biden’s climate change strategy, several actions were implemented.

Sommers is afraid that costs will remain high, “especially as we get into the winter months when customers use more natural gas to heat their homes.”According to the Energy Information Administration, the cost of heating oil is predicted to jump by 43 percent compared to last year due to “higher expected fuel costs as well as increased energy usage due to a colder winter.”

According to the EPA, “almost half of U.S. homes who heat primarily with natural gas will spend 30% more than they did last winter on average.”On Sunday, Energy Secretary Jennifer Granholm told CNN’s “State of the Union” anchor Dana Bash that American could expect increased heating expenses this winter.

Be First to Comment

Leave a Reply

Your email address will not be published.