Lubbock Times

House Budget Committee Chairman Jodey Arrington addressed the fiscal and economic impacts of the Biden-Harris Administration's energy policies in a hearing titled "The Cost of the Biden-Harris Energy Crisis."

"Our hearing today focuses on the fiscal cost and economic consequences of the Biden-Harris Administration's failed economic and energy policies. Those costs have been significant and measurable, and the consequences have been manifold and dire," Arrington stated.

Arrington criticized what he described as a regulatory attack on conventional fuels, increased taxes on oil and gas, and substantial green energy subsidies. He argued these measures have negatively impacted the economy, increased living costs for families, and compromised national security by making the United States more reliant on foreign adversaries.

"The Biden-Harris Administration has issued 250 executive actions against one industry, an industry that employs 10 million people with high wage jobs and represents almost 10 percent of our total economy," he said.

He also highlighted rising fuel prices under the current administration. "It's resulted in higher gas prices at the pump, as high as over $5 dollars... on average, it's been $1 dollar more per gallon in cost than the previous Administration."

According to Arrington, electricity costs for families have increased by 25-30 percent, nearly doubling consumption costs compared to previous years. He estimated these policies are costing families an additional $1,700 annually.

On President Biden's first day in office, he canceled the Keystone XL Pipeline project. Arrington claimed this decision alone could have saved $50 billion in transportation costs but was only part of a broader strategy affecting critical infrastructure.

"Biden-Harris’s moratorium on drilling on public lands will cost $33 billion in lost GDP and roughly 60,000 jobs," Arrington noted. He also pointed to emission regulations from the EPA that he believes are overly burdensome.

Arrington expressed concerns about subsidies for green energy corporations totaling $800 billion. He suggested that up to 70 percent of this value might benefit China due to their role in rare earth mineral mining.

In his concluding remarks, Arrington emphasized growth through sound energy policies as essential for improving America's fiscal health. "We must make a change if we're going to get our country on a good fiscal path and hand it to our children in a manner that gives them the opportunities and prosperity that we've all enjoyed."

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