Andy Barr: “I support the underlying legislation to increase domestic energy production to replenish the Strategic Petroleum Reserve…”

“I support the underlying legislation to increase domestic energy production to replenish the Strategic Petroleum Reserve that has been recklessly and dangerously drawn down by the Biden administration in a cynically political move to try to lower energy prices before an election. But we know that in a move to placate radical environmentalists, President Biden blocked the Keystone XL pipeline at the beginning of this administration. His administration suspended oil and natural gas leasing and permits when he took office. But for the last year, the President and his supporters have been pleading for more domestic energy production. The President can't have it both ways. In just over 2 years, the President has depleted the crude oil and the Strategic Petroleum Reserve by 40 percent. Not only did this scheme fail to bring down prices in a meaningful way for Americans, but it also threatens our energy and national security should a true national emergency occur. This is not just negligence from the administration. The administration is waging an active war against the oil and gas sector. Now, we all know about the war against leases, and we know about the war against energy infrastructure like Keystone. But ground zero, Mr. Chairman, for this war against domestic energy production is the weaponization of financial regulation to discriminate against American energy production and redirect capital away from American energy production.…”