Breck Dumas of Fox Business talks with Nick Loris on how the government can reduce gas prices.
- To lower prices at the pump the supply of gasoline must increase.
- While U.S. producers are expected to break energy production records by the end of this year, the Biden administration can accelerate price decreases by reforming several regulations.
- Specifically the federal government could pause summer blend requirements for gas and state governments could suspend gas taxes.
- By reducing regulations to increase fuel production in America policymakers can benefit consumers, the environment, and our economy alike.
“Loris says that the Biden administration isn’t entirely to blame for the high energy prices but that it could help ease prices in the longer term by changing course on its anti-fossil fuel policies, pointing to the president blocking the Keystone XL Pipeline and halting new federal land leases as moves that created further uncertainty in energy markets and discouraged investment.”
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