The House Energy Action Team (HEAT) is a coalition of Members of Congress who support the development, deployment, and efficient use of all-of-the-above energy resources. Reps. Markwayne Mullin and Jeff Duncan serve as co-chairs.
Pain at the Pump? Beware Democrat Energy Schemes
Every year, millions of Americans hit the road for the Memorial Day holiday. Unexpectedly high gas prices can eat deeply into Americans’ pockets and ruin otherwise enjoyable weekends.
As Republicans finish out this session week and head home for Memorial Day, we will keep advocating for all-of-the-above energy solutions that keep gas and utility prices low across the country. Democrats, on the other hand, must be held accountable for their efforts to ban proven technologies and resources, endangering household budgets and our new era of American energy dominance.
Explaining Gas Prices
- The main determinant of gas prices is the price of crude oil.
- Taxes and government mandates are other major determinants of gas prices.
- High-tax, radically-environmentalist states like California continue to see gas prices over $4, while low-tax, energy-friendly states like Texas and Louisiana have gas prices around $2.50.
- Politicians in California raised gas taxes in 2017, then promptly turned around and demanded an investigation into why California’s gas prices are the highest in the country.
- Last Memorial Day, Democrats were busy trying to pin blame for rising gas prices on President Trump.
- But Democrats haven’t done much introspection into the effect their policies would have on consumer prices. Senator Bernie Sanders recently released a plan to “ban fracking and new fossil fuel infrastructure.“
- It is now estimated that the U.S. Shale Revolution produces about 59% of total U.S. crude oil production.
- Banning proven energy technologies and roping off our abundant natural resources will restrict crude oil supply and send gas prices skyrocketing. An estimated 15 million jobs could be lost.
A New Era: American Energy Dominance
- Many Americans remember the Organization of Petroleum Exporting Countries(OPEC) oil embargoes of the 1970s. OPEC restricted oil exports to the U.S. as punishment for our support of Israel during the 1973 Arab-Israeli War.
- Americans were forced to wait in around-the-block lines during gas shortages.
- Thanks to the the recent U.S. energy revolution, Americans will never again be vulnerable to market manipulation by foreign countries like Iran and Venezuela.
- In just over a decade, petroleum imports have plummeted. Rich natural resource reserves like the Permian Basin in the Southwest and Bakken region in North Dakota now feed American demand.
Democrat Economics Simply Don’t Make Sense
- Democrats have repeatedly called for an end to hydrocarbon fuels and supported heavy government subsidies for renewables and electric cars.
- However, hydrocarbons provide over 80% of the world’s energy. To completely replace hydrocarbons in 20 years, renewable production would have to increase 90-fold.
- Meanwhile, $1 million spent on a natural-gas producing shale rig generates roughlysix times more electricity than the same $1 million spent on solar or wind.
- Research shows that 79% of certain electric vehicle tax credits are claimed by households with incomes greater than $100,000 a year.
- Meanwhile, it is estimated that expansion of the electric vehicle tax credit, as supported by some lawmakers, would cost the government $16 billion.
- The economics show the need for hydrocarbon fuels in our future energy mix.
- Data from the U.S. Environmental Protection Agency (EPA) also shows how, despite a steady increase in vehicles miles traveled, both CO2 and aggregate emissions have been in relative decline in recent years.
BOTTOM LINE: Republican energy solutions are delivering lower prices at the pump, lower emissions, and American energy dominance. Democrat energy schemes threaten everything American consumers have to be thankful for.