Sen. Pat Toomey (R-Pa.) | Courtesy photo
Sen. Pat Toomey (R-Pa.) | Courtesy photo
The Interior Department has recently canceled scheduled oil and gas lease sales inside the Gulf of Mexico and Alaska, a decision that experts believe adds to the nation's high energy costs, the Hill reports.
The administration's decision also coincides with a decline in President Joe Biden's popularity among Americans, especially on economic issues.
"The domestic actions that restrict oil production worsen the inflation problems and the budget squeezes that too many families are facing across the states," Wayne Winegarden, senior fellow in Business and Economics of Pacific Research Institute, said, "The expectation of greater supply by allowing more oil production would help reduce gas prices quickly and incentivize greater supply, which could help offset some of the inflationary pressures," Winegarden said.
After assuming office in January, Biden signed an executive order blocking all new oil and gas leasing on federal lands; he has also canceled several existing oil leases.
In early May, national average gas prices hit an all-time high, leading congressional Republicans to further question the administration's energy policies.
The national gas price average was $4.42 per gallon as of May 12, marking 7.8% spike to April's average of $4.10 per gallon; in Pennsylvania, the average is $4.57 per gallon, according to American Automobile Association (AAA) figures.
Gas averaged $4.22 per gallon on March 31, the day of the SPR release, which is 20 cents less than the current average cost.
“Production is essentially higher than it’s been in a couple decades,” Interior Secretary Deb Haaland said during a congressional hearing two weeks ago, “On the federal lands, we’re doing what we need to do and we’re following the law and making sure that we are moving those issues forward.”
Figures from the Energy Information Administration (EIA) reveal that overall oil output in the U. S. has been decreasing for three months in a row, contradicting administration officials' statements that domestic production is at record highs.
Pennsylvania Sens. Pat Toomey (R) and Bob Casey (D) are divided on the issue of federal oil drilling, resulting in split votes for a bill that would boost U.S. fuel output.
On May 4, 53 Senate Republicans, including Toomey, supported Sen. John Barrasso's (R-WY) move to mandate the rapid preparation of a new 5-year federal offshore oil and gas leasing plan.
Casey was among the 44 Democrats who voted against the measure.
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