In his 2023 State of the Union address, President Biden commented, “We are going to need domestic oil for at least another decade.” With 68% of the United States energy supply coming from oil and natural gas, what do President Biden’s energy transition goals really mean for America?

Energy will become much more expensive. Just look at what the Biden Administration’s throttling of the U.S. oil and natural gas industry has already done to energy prices.

1. Consumers will face shortages and outages. We do not have the infrastructure, raw materials, or technology to support his radical transition plans.
2. The U.S. will become more reliant on foreign energy and enrich even those who seek to undermine America and democracy worldwide.
3. Our economy, exports, and jobs will suffer while our competitors continue to use low-cost and environmentally harmful energy sources to unfairly compete with the United States.

The hypocrisy of this administration knows no bounds. Sending mixed signals calling for increasing domestic energy production and then creating policy uncertainty for producers only increases costs and deters U.S. energy production. The Administration’s new anti-fossil-fuel policies will make the global energy crisis even worse.

Petroleum and natural gas will remain the most-consumed sources of energy in the United States through 2050 per the U.S. Energy Information Administration (EIA).  U.S. energy consumption and global energy demand will increase over the next 30 years due to population and economic growth.

They block leases on federal lands and prevent permitting reform needed to build critical infrastructure while courting increased oil output from places like Venezuela and the Middle east.

American innovation has met every challenge our nation has ever faced and can do so again. But it will take a commonsense approach free of political posturing to get us there.