A recent report from the House Oversight and Accountability Committee criticizes President Biden’s green energy agenda, asserting that it has led to significant economic challenges, including increased gas prices, power grid instability, and a staggering $1 trillion in new regulatory costs for businesses and consumers. The Biden administration’s commitment to phasing out fossil fuels and reducing greenhouse gas emissions has been implemented through a comprehensive, government-wide strategy. However, the report suggests that these measures are exacerbating economic difficulties for Americans who are already contending with high inflation and rising housing costs.
One of the report’s key findings highlights the dramatic rise in gas prices since President Biden took office. On his inauguration day, gas prices were approximately $2.39 per gallon, but they surged to a record national average of over $5 per gallon by June 2022. The committee argues that these price hikes are directly linked to the administration’s energy policies, which they claim are damaging to the economy and placing additional burdens on consumers. The findings raise questions about the balance between advancing green energy initiatives and maintaining economic stability for American families.
