Republicans hoping to capitalize on public frustration with rising gasoline and home heating costs are peddling falsehoods. In the U.S., gasoline, diesel, and natural gas prices were already rising before Russia invaded Ukraine as demand surged from people commuting and traveling again. This would have happened no matter who was president, but Republicans are trying to blame Biden (see, e.g., an Oklahoma congressman’s shrill op-ed here). What they’re saying isn’t true.
Myth No. 1: Biden killed oil production
“Biden has done nothing to halt oil leasing,” Vox says. His administration issued more drilling permits in its first year than Trump’s did, and held “the largest offshore lease sale ever in the Gulf of Mexico last year,” until a federal court blocked it. He’s “done nothing to prevent the vast amount of gas production that occurs on private lands” and the US became “the world’s largest exporter of liquified natural gas (LNG) for the first time in 2021.” In reality, U.S. oil and gas production have been rising off their pre-pandemic lows (see graph below), but prices have gone up because demand is rising faster.
Biden himself says, “It’s simply not true that my administration or policies are holding back domestic energy production. Even amid the pandemic, companies in the U.S. pumped more oil during my first year in office than they did during my predecessor’s first year.” (See story here.)
Myth No. 2: The oil and gas industry can quickly ramp up production to make a dent in prices
No, it can’t; and the White House is encouraging, not discouraging, more production. (See related story here.) But in the U.S. production decisions are made by oil companies, not the government, which for years were hampered by low oil prices; and now, the CEO of Pioneer Resources says, “If the president wants us to grow, I just don’t think the industry can grow anyway” (for reasons why, see story here).
Myth No. 3: LNG exports will fix Europe’s problems and help US gas prices
That requires infrastructure, which in Europe is already at capacity, and “is impossible to scale up in enough time to make an impact.” In addition, exporting more gas would raise U.S. prices even more.
Myth No. 4: We can ignore climate concerns because boosting gas will counter dependence on Russia
Europe’s mistake was depending on Russia in the first place. Now, “The biggest risk is if the US and Europe respond to this crisis by over-investing in the future of fossil fuels. Actions like building LNG terminals and approving new leasing don’t help in the short term when people are struggling to pay high bills. It doesn’t achieve energy independence. But it would lock the world onto a dangerous path for climate change.”
Read the article here.
