John Hoeven: “I rise today to discuss the Biden administration's regulatory blizzard that is restricting energy development and making…”

“I rise today to discuss the Biden administration's regulatory blizzard that is restricting energy development and making energy more expensive and less reliable for homes and businesses not only across my State but across the country. According to data from the Federal Energy Regulatory Commission, or FERC, electricity demand is expected to increase almost 5 percent over the next 5 years. At the same time, FERC Commissioners and grid operators are warning of more blackouts and brownouts because powerplants are retiring before new generation capacity can be brought online. Simply put, energy prices are high because demand is outpacing supply, and Americans are being forced to pay higher prices at the pump and higher utility bills. Because the cost of energy is built into every good and service across the economy, higher energy prices are fueling persistent inflation. Instead of bringing more supply online to reduce prices, the Biden administration is imposing a regulatory blizzard that seeks to curtail energy production. It starts with the EPA, which is imposing new, costly, unworkable mandates specifically designed to reduce traditional energy production.…”