WASHINGTON – U.S. Senator Bill Cassidy, M.D. (R-LA), member of the Senate Energy and Natural Resources Committee, released a statement following reports that President Biden’s plans to release one million barrels of oil per day from the Strategic Petroleum Reserve to lower gas prices.
“Releasing additional oil from the Strategic Petroleum Reserve must be accompanied by a plan to increase production and backfill the supply,” said Dr. Cassidy. “The Biden administration must not put our future energy security at risk for a short-term attempt to salvage the president’s plummeting poll numbers.
While the Biden administration says it is doing nothing to halt the development of oil and gas development, this week the president’s own budget proposal for the Department of Interior forecast a $370M decline in offshore energy revenue as a result of not conducting lease sales.
In response to the Biden administration’s misguided energy policies, Cassidy released a landmark energy & climate policy outline on how the U.S. can successfully reset energy and climate policy and create a global Russia-free energy future. This outline included Cassidy’s plan for an Operation Warp Speed for U.S. energy production and exports.