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Gov. Ricketts: President Biden Must Unleash U.S. Energy Production, Cut Red Tape to Ease Inflation

Media Contacts:  

Alex Reuss, 402-471-1970

Justin Pinkerman, 402-471-1967

 

Media Release:

Gov. Ricketts: President Biden Must Unleash U.S. Energy Production, Cut Red Tape to Ease Inflation

 

LINCOLN – Today, Governor Pete Ricketts issued a statement in response to President Joe Biden’s plan to combat inflation:

 

“The President’s irresponsible policies have caused runaway inflation.  They’re dragging down our economy and forcing Americans to live on less.”

 

“President Biden has failed to grasp the threat posed by inflation.  In July 2021, he downplayed concerns about rising prices, claiming that he expected them to be ‘temporary.’  In the ten months since then, inflation has accelerated, soaring to its highest point in over 40 years.  The annual inflation rate is up 8.5% over the past 12 months.  This rampant inflation is corrosive and taking a toll on everyone, from hardworking families to seniors on fixed incomes.” 

 

“It’s time the Biden-Harris Administration took responsibility for inflation.  However, the approach the President announced today will only make things worse.  To stop runaway inflation, he needs to lift regulations to unleash the full potential of American energy production and cut red tape to make it easier for businesses to operate.”

 

Unleashing U.S. Energy Production

“To start, the Biden-Harris Administration should stop handcuffing drilling.  Instead, they’ve put even more restrictions in place.  Just last month, they prohibited drilling on seven million acres of federal land in the National Petroleum Reserve in Alaska.”

 

“The President needs to quit obstructing oil and gas leases.  His first month in office, President Biden tried to suspend all oil and gas leases on federal lands as part of his radical climate policy.  Nebraska was among a coalition of states that successfully sued the Administration so that the leases could move forward.  After nearly 1½ years in office, the Biden Administration has failed to hold a successful public auction for oil and gas leases on public lands.  This is inexcusable at a time of record gas prices.”

 

“Instead of begging authoritarian governments in Venezuela and Iran to sell more oil, the President should prioritize biofuels produced right here in America’s Heartland.  Ethanol saves drivers money at the pump so that they can keep more money in their wallet.  The price of wholesale ethanol has recently been as much as $1.20 per gallon less expensive than gasoline.  This discount is passed on to motorists who fuel their vehicles with ethanol blends.  Filling up with ethanol helps clean up the environment by reducing toxic emissions.  Ethanol made from Nebraska corn cuts greenhouse gas emissions by 43% compared to gasoline.  Ethanol also creates opportunities for Nebraska’s farm families and strengthens our number one industry: agriculture.  Roughly 35-40% of the corn grown in our state goes to our ethanol industry.  Authorizing E15 this summer is a start, but the President needs to do more.  There’s no good reason why the year-round sale of E15 shouldn’t be permanent.  Additionally, Nebraska has demonstrated that E30 fuel can be used in regular vehicles without reducing performance or requiring extra maintenance.  The federal government should move full speed to increase volumes of E30 in our nation’s fuel supply.”

 

Cutting Red Tape

“The Biden Administration seems to relish regulation.  Their regulatory agenda for 2022 has 35% more regulatory actions than the first fall regulatory agenda issued under the Trump Administration.  Additionally, the Biden Administration is growing the number of government bureaucrats.  The number of civilian employees in the executive branch of federal government is at an all-time high of 2.2 million.”

 

“As an example of the way President Biden is growing the size of government, his federal budget recommendation would expand the Environmental Protection Agency’s annual budget by 29%, or about $2.6 billion, while adding 1,900 full-time employees to the agency.  He’s also proposed a 24% budget increase (roughly $3 billion) for the Department of the Interior.  This includes adding over 1,000 full-time employees to the Fish and Wildlife Service.  In the face of soaring inflation, President Biden is prioritizing massive spending increases to support the goals of environmental extremists.  This is just one example of how out of touch this administration has been.”

 

“The President wants to blame inflation on the pandemic, on the Russians, and on his political opponents.  This blame game pollutes public discourse.  President Biden needs to put the American people above politics to get our economy back on track.”

 

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