U.S. Sen. Jim Inhofe (R-Okla.), ranking member of the Senate Armed Services Committee, made the following statement as oil and gas prices surge amidst Russia’s invasion of Ukraine:
“Vladimir Putin’s unprecedented, unwarranted and unprovoked attack on the people of Ukraine is spilling the blood of both military members and civilians, and wreaking havoc across Europe and the world. The resulting instability, and Russia’s continued weaponization of its oil and gas resources in the dead of winter, have driven oil prices to levels we haven’t seen in seven years. Here at home, this comes on top of the steady increases in gas and oil prices we’ve experienced since President Biden took office and embarked on his extreme climate agenda.
“These climate policies have done nothing but hurt working Americans’ pocketbooks while lining Putin’s as he gains windfall profits from the price increases the Biden administration is responsible for.
“As we continue to support the Ukrainian people’s ability to defend themselves, bolster our Eastern NATO allies, and deter Putin from continuing his aggression, I call upon the Biden administration to reverse its anti-fossil energy agenda and to do everything in its power to undermine one of the Kremlin’s biggest economic tools—high energy prices. This includes withdrawing from the radical, job-killing Paris Climate Agreement, granting permits to restart the Keystone XL pipeline, abandoning proposals for unprecedented new taxes on the oil and gas sector, and reducing regulations that have led to production costs surging in America over the past year. This will not only weaken his ability to wage continued war against Ukraine, but also provide much-needed relief here at home for hard-working Americans, many of whom are facing $5 per gallon at the gas pump and 40-year high inflation.”