Staff Reports
In a recent interview with Newsmax, U.S. Rep. Matt Rosendale (R-MT) expressed his concern about the decline in U.S. oil production since President Biden took office. According to Rosendale, the Biden administration’s energy policies have led to a drop of about two million barrels per day in domestic oil production. He pointed out that this is equivalent to depleting about 50% of the Strategic Petroleum Reserve.
Rosendale attributed this decline to a series of executive orders signed by President Biden, which rolled back former President Trump’s energy policies in the name of climate change. One of the most significant impacts, he noted, was the closure of the Keystone XL pipeline on day one of Biden’s presidency. This decision alone prevented the transmission of approximately 850,000 barrels per day, with 150,000 barrels per day coming from his home state of Montana.
The congressman highlighted the economic consequences of these energy policies, particularly the loss of tax revenue from the Keystone XL pipeline. He estimated that the pipeline would have generated $60 million per year in tax revenue for Montana, benefiting some of the poorest counties in the state. Additionally, the Biden administration froze the leasing of public lands for oil and gas development, further hindering domestic production.
They will make you eat the bugs one way or another. https://t.co/cUJqN8RqAJ
— Jenna Ellis (@JennaEllisEsq) September 3, 2023
Rosendale also criticized the Biden administration for blocking pipelines and processing facilities for liquid natural gas. He argued that these policies not only reduced domestic production but also hindered the efficient delivery of oil and gas products within the country and to international allies.
The Montana congressman emphasized the negative consequences of Biden’s energy policies, including a heightened dependence on foreign governments, some of which could be hostile to U.S. interests. He noted that not only are Americans more reliant on adversaries for energy, but European allies are also becoming increasingly dependent on these same adversaries. Rosendale raised concerns about the cost of refilling the Strategic Oil Reserve and questioned why the U.S. is buying oil from Venezuela instead.
In sum, Rosendale’s remarks shed light on the significant impacts of President Biden’s energy policies, which have led to a decline in U.S. oil production and increased reliance on foreign sources of energy. The economic and national security implications of these policies are troubling and deserve further scrutiny.
