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Thune: Biden Must Embrace an All-of-the-Above Energy Policy

“The president’s policies have already resulted in a two-plus-year inflation crisis. If he keeps going the way he’s been going, his legacy may include an energy crisis as well.”

September 28, 2023

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WASHINGTON — U.S. Sen. John Thune (R-S.D.) today spoke on the Senate floor about President Biden’s out-of-touch energy agenda that continues to undermine the nation’s energy security. Thune noted that it’s time for the president to take a more realistic approach to American energy and embrace an all-of-the-above energy policy that prioritizes both conventional and renewable sources. 

 

Thune’s remarks below (as prepared for delivery):

 

Mr. President, the Biden administration’s war on affordable and reliable energy continues.

 

“Three weeks ago, the administration announced the cancellation of seven oil and gas leases in the small portion of ANWR – the Arctic National Wildlife Refuge – that is available for energy exploration and development.

 

“It was just the latest move by the Biden administration to stifle conventional energy production.

 

“Mr. President, in his State of the Union address this year, the president acknowledged, and I quote, ‘“We’re going to need oil for at least another decade” … and beyond that.’ 

 

“Let me just repeat that – and again, these are President Biden’s own words:

 

 “‘“We’re going to need oil for at least another decade” … and beyond that.’

 

“The president is right.

 

“While alternative energy is powering an increasing share of American energy production, we are nowhere near being able to rely exclusively on alternative energy technologies.

 

“We are going to need conventional energy for quite a while yet.

 

“And, Mr. President, the best way to get that conventional energy is by developing the United States’ abundant domestic resources in an environmentally responsible way.

 

“But the president’s anti-development strategy seems designed to force us to remain at the mercy of producers like OPEC and rely on expensive imports from sometimes dangerous or unstable countries and regions. 

 

“Mr. President, there are multiple problems with relying on foreign sources of oil – not the least of which is the potential for our oil dollars to fund oppressive regimes.

 

“But even leaving that aside, depending on foreign oil sources threatens the stability and affordability of our oil supply.

 

“You only need to look at the energy challenges and soaring costs countries like Germany have faced in the wake of Russia’s invasion of Ukraine to recognize how perilous it can be to rely on another country for energy.

 

“And anyone who is concerned about the environment should recognize that oil and gas production here in the U.S. is likely to be substantially more environmentally friendly than a lot of foreign production. 

 

“Mr. President, the president’s war on domestic production isn’t the only dangerous element of his energy strategy.

 

“Also of deep concern is the president’s apparent determination to force Americans to adopt electric vehicles on a broad scale within the next decade.

 

“And why is this so concerning?

 

“Because our electric grid is nowhere near capable of supporting that kind of a widespread transition to electric vehicles.

 

“Rising electricity demand is already stretching our grid, which has been weakened by the move away from conventional energy sources.

 

“In an apparent response to the impact of overreaching Green New Deal-style policies, NERC, the North American Electric Reliability Corporation, for the first time identified energy policy as a risk to grid reliability in its recent biennial report.

 

“Discussing the move away from conventional sources of electricity, NERC found, and I quote, ‘Collectively, the new resource mix can be more susceptible to long-term, widespread Extreme Events, such as extreme temperatures or sustained loss of wind/solar, that can impact the ability to provide sufficient energy as the fuel supply is less certain.’

 

“In February the PJM Interconnection – which manages a substantial part of eastern America’s electric grid – released a report warning that fossil fuel plants are being forced to retire at a faster rate than new renewables can be brought on line, at a rate of roughly two to one.

 

“In other words, Mr. President, we’re rapidly approaching a situation in which we simply don’t have the ability to keep up with current electricity demand.

 

“Add charging for tens of thousands – or hundreds of thousands – of electric vehicles on top of that, and we could be looking at a future of widespread blackouts and brownouts – to say nothing of soaring electricity prices.

 

“I should also mention that the Biden administration’s proposed distribution transformer rule, which would require a move to amorphous steel cores for new distribution transformers, would do the grid no favors.

 

“In fact, it would be almost guaranteed to worsen supply chain issues and seriously slow grid maintenance and upgrades.

 

“And the supply chain backlog is a top concern for utilities and electric cooperatives, which are already facing headwinds from overreaching EPA regulations. 

 

“Mr. President, I don’t need to tell anyone that utility bills for electricity and natural gas have risen dramatically since President Biden took office, as have gas prices. 

 

“It’s a predictable outcome of the economic and energy policies he’s pursued.

 

“And if his war on conventional energy continues, today’s high prices could look cheap next to the energy prices of the future.

 

“Mr. President, I’m a strong – and longtime – supporter of renewable energy, and am proud to be from a state that is a top producer of ethanol and that derives a substantial portion of its electricity generation from renewable resources like wind and hydroelectric.

 

“But the fact of the matter is, energy technology has simply not advanced to the point where we can rely solely or even mostly on renewables.

 

“And while the president may sometimes pay lip service to our continuing need for conventional energy, his actual policies seem to ignore this fact – and are setting us up for a future of higher prices, grid instability, and insufficient supply.

 

“The president’s policies have already resulted in a two-year-plus inflation crisis. 

 

“If he keeps going the way he’s been going, his legacy may include an energy crisis as well.  

 

“Mr. President, I yield the floor.”