Major oil industry group sends Biden 10-point plan to lower oil prices, amid record costs at pump
The president is being urged to “keep government policies from unnecessarily restricting energy growth”
The American Petroleum Institute, the country's biggest oil and natural gas trade association, has sent the White House a suggested, 10-step plan to lower oil prices – amid record-high costs at gas stations.
Institute CEO Mike Sommers' recommendations include lifting restrictions on drilling on federal land, streamlining permitting processes, advancing new energy infrastructure projects and eliminating supply-chain bottlenecks.
“Your administration has restricted oil and natural gas development, canceled energy infrastructure projects, imposed regulatory uncertainty, and proposed new tax increases on American oil,” Sommers said.
The Biden administration has blamed the record-high costs on price gouging and the Russian invasion on Ukraine. White House press secretary Karine Jean-Pierre urged oil companies to simply lower prices, calling it their "patriotic duty."
Biden has previously used executive orders to suspend oil and gas leasing, cancelling the Keystone XL crude oil pipeline and incentivize investments in green energy.
Gas prices have more than doubled since Biden took office, now eclipsing $5 a gallon on average nationally.
This is “the most consequential energy crisis since the 1970s,” Sommers also said.
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