report released this month, however, Biden’s energy policies are inflating prices by persecuting production:

One week into his presidency, President Biden issued an executive order establishing a moratorium on leasing federal lands for oil and gas production. President Biden has since called for the re-implementation of an Obama-era rule to require oil and gas producers, processers, and refiners to install expensive technology to detect methane leaks, and in a counterproductive attempt to protect the environment, has begun rolling back any reforms from the Trump Administration that lower costs for energy producers. The Biden Administration also revoked permits for the Keystone XL Pipeline — a pipeline that would have transported 830,000 barrels of oil a day — proposed fee hikes on domestic energy producers leasing government land, and faces internal pressure to reinstate a misguided ban on oil exports. These and other federal actions would directly and indirectly halt new investments that are critical to expanding domestic supply.

Investors and business leaders make business decisions based on policy actions as well as the political discussion that often precedes policy. The perceived political climate can directly influence forward-looking investment decisions, especially in heavily regulated industries. The Biden Administration has consistently threatened oil and gas producers with new taxes, regulation, and reporting requirements that raise costs for domestic producers.

Meanwhile, the Biden Administration’s weakness and miscalculation is triggering dangerous instability overseas.

As itemized above by the JEC, it has embraced the same European model of demonizing fossil fuels and mandating alternative energy production that has left Europe more vulnerable to Russian threats to curtail gas imports amid the winter freeze. Whereas President Trump imposed sanctions on the Russian Nord Stream 2 pipeline to Europe, Biden inexplicably relented in servility to the Germans. That makes forcefully standing up to Vladimir Putin’s aggression nearly impossible