American Petroleum Institute Senior Vice President Frank Macchiarola says Biden's energy policies cost 50K American jobs and 500K barrels of oil per day -- the same amount of oil imported from Russia before its invasion of Ukraine.
Photo credit: Gretty Images / iStockset to expire on June 30, Macchiarola said the president has an opportunity to reverse course.
"If the administration really wants to be strategic here, they'll promote the production of oil and gas in the United States through development on federal lands and waters. They'll stop restricting access to pipeline infrastructure. They'll cancel these proposals to increase taxes on American producers," Macchiarola explained. "Those are the things that are going to provide relief for Americans at the pump.
"For generations, we've had bipartisan agreement across administrations of both parties that we need to be more energy independent, more energy secure," he continued. "For the first time, we have an administration that doesn't promote energy development... that restricts access to areas for production and cancels pipelines."
Macchiarola warned that the U.S. oil supply isn’t coming back fast enough, even with select oilfields, like the
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