White House Uses GOP Oil Bills to Go on Gasoline-Price Offensive
(Bloomberg) -- US gasoline prices are back on the agenda in Washington as both political parties go on the offensive. And this time it’s Democrats using them as a cudgel against Republicans.
The White House is arguing that GOP-supported bills critical of the administration’s energy policy will end up raising fuel costs for Americans.
House Republicans have teed up a vote this week on legislation that would tie releases of oil from the Strategic Petroleum Reserve to increased drilling on federal lands and water. The Democratically controlled Senate isn’t expected to take up the bill.
The move is an example of how Republicans are using their House majority to shine a light on the Biden administration’s historic 180-million-barrel drawdown from the reserve. Democrats argue that by attaching strings to use of the oil reserve, Republicans would hinder their ability to use it during emergencies. Last year, as gasoline rose to a historic high in the wake of Ukraine’s invasion, President Joe Biden tapped strategic stockpiles in an effort relieve fuel makers as the world shunned Russian supplies.
Republicans criticized the drawdown as a political ploy to lower gasoline prices before the midterm elections.
“Republican elected officials spent the last two years falsely claiming we were raising gas prices, and then once they take control of the House they push an extreme agenda that would actually raise gas prices for Americans,” White House spokesperson Abdullah Hasan said in a statement Monday.
Read: House Votes to Ban Oil Reserve Sales to China Amid GOP Criticism
A bill that would bar sales from the stockpile to China cleared the House earlier this month — one of the chamber’s first pieces of legislation to pass under House Speaker Kevin McCarthy.
“Sadly, President Biden has used the SPR as his own personal piggy bank and tapped into our emergency reserves to try to bail out his administration’s extreme climate agenda and lower gas prices,” House Majority Leader Steve Scalise’s office said in a statement Sunday.
Energy Secretary Jennifer Granholm will speak at the White House press briefing Monday to highlight the effects of the administration’s oil reserve release, a White House official said.
Granholm is expected to argue that gasoline prices have dropped $1.60 per gallon since they peaked at more than $5 over the summer, and highlight Biden’s call on oil and gas producers to lower their costs for consumers, the official said.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.
KEEPING THE ENERGY INDUSTRY CONNECTED
Subscribe to our newsletter and get the best of Energy Connects directly to your inbox each week.
By subscribing, you agree to the processing of your personal data by dmg events as described in the Privacy Policy.
More oil news

Exxon Boosts Share Buybacks as Hunt for More Oil Accelerates
Dec 06, 2023
Oil Steadies After Three-Day Loss as Riyadh Defends OPEC+ Cuts
Dec 05, 2023
Chevron, Exxon Opt Out of Funding COP28 Methane-Cutting Fund
Dec 04, 2023
COP28 Latest: Bankers Start Talks With All Options on the Table
Dec 04, 2023
Russian Gas Glut Shows Austria Still in Kremlin’s Energy Orbit
Dec 04, 2023
Japan Vows to End Construction of New Unabated Coal Plants
Dec 02, 2023
Oil Extends Losses Amid Pessimism Over Swelling Global Supplies
Dec 01, 2023
Asia Shares Drop After November Jump, Dollar Falls: Markets Wrap
Dec 01, 2023
Occidental Petroleum in Talks to Buy CrownRock, WSJ Reports
Nov 30, 2023
Saudis Forecast to Cut Oil Price to Asia as Competition Heats Up
Nov 29, 2023
Nuclear energy to play a key role in the energy transition
Dec 08, 2023
Renewable energy is accelerating, but not fast enough
Dec 07, 2023
COP28 to drive investment in the energy transition
Dec 06, 2023
Technologies that can be super charged to meet climate goals
Dec 06, 2023
COP28 presents a strong opportunity for Nabors
Dec 05, 2023
Low carbon hydrogen holds the key to achieving net zero
Sep 29, 2023
The trillion-dollar opportunities on the road to net zero
Aug 16, 2023
Unlocking growth opportunities in sustainable finance
Jul 12, 2023
Decoding the trends shaping the future of energy
Jun 14, 2023
Exploring ESG’s critical role in the journey to net zero
May 18, 2023Partner content

IT/OT convergence: balancing agility and reliability

Technologies that can help the oil and gas industry decarbonise

World-class energy management systems can shape a sustainable future

Automation is the key to LNG present and the future scenario for hydrogen
