SE North Carolina News

Washington, D.C. - Senator Ted Budd (R-NC) has introduced the Strategically Lowering Gas Prices Act, a bill aimed at addressing the high cost of fuel faced by working Americans and small businesses. Budd was joined by Senators Dan Sullivan (R-AK), Eric Schmitt (R-MO), Mike Braun (R-IN), and Pete Ricketts (R-NE) in introducing the legislation.

The bill seeks to prohibit the Biden administration from releasing oil from the Strategic Petroleum Reserve (SPR) until any executive orders that block energy development on federal land are revoked. The legislative text of the bill has been made available for review.

Speaking about the dangerously low level of the SPR, Senator Budd highlighted the need for President Biden to reverse his environmental agenda and pursue an 'all of the above' energy strategy. He stated, "The best way to lower fuel prices is for President Biden to reverse his radical environmentalist agenda and pursue an 'all of the above' strategy that gets us back to American energy independence. That's what my bill will force President Biden to do."

Senator Sullivan expressed concern over the depletion of the SPR and urged the President to support the legislation. He emphasized the importance of refilling the SPR for national security purposes and advocated for using American oil produced by American energy workers. Senator Schmitt echoed these sentiments, criticizing President Biden's energy policies and their impact on gas prices. He argued that the bill would incentivize domestic energy production and ensure America's energy dominance.

Senator Ricketts emphasized the need to use the SPR for real emergencies rather than political emergencies caused by failed policies. He criticized President Biden's abuse of the oil reserve and urged the President to pursue an all-of-the-above energy strategy to make America energy independent once again. Senator Braun questioned the President's decision to drain the SPR while blocking American energy independence.

Ryan Walker, Executive Vice President of Heritage Action, also commented on the issue, criticizing President Biden's energy regulations and the depletion of emergency oil reserves. He stated, "Sen. Budd's bill ends Biden's hypocrisy and protects American reserves for true emergencies, not an avoidable crisis caused by climate alarmism."

The Strategic Petroleum Reserve (SPR) was established in 1975 to provide a safety net for the U.S. in times of emergency and significant oil shortage. Since President Biden took office, the SPR has declined by nearly 287 million barrels of crude oil, reaching its lowest level since June 1983.

The Strategically Lowering Gas Prices Act aims to ensure that the SPR is used as an emergency measure of last resort, only when the administration's own actions are not negatively impacting the oil and gas supply in the U.S.

With the introduction of the bill, Senator Budd and his colleagues are pushing for a change in energy policies that prioritize American energy production and promote lower gas prices for the benefit of working Americans and small businesses.