Sens. Marshall, Daines, Braun Legislation Addresses Surging Gas Prices

(Washington, D.C., March 31, 2022) — U.S. Senator Roger Marshall, M.D., along with Senators Steve Daines (MT) and Mike Braun (IN), introduced the Gas Prices Relief Act, legislation to block the Biden Administration from continuing to stifle the American energy industry. Specifically, the bill prohibits the introduction of any new regulations that decrease U.S. energy production or increase gasoline prices. By getting government out of the way, domestic oil and gas production will increase and prices will drop. As such, Senator Marshall’s bill contrasts Democrats’ recent legislation that would provide a short term, deficit increasing solution with a holiday on the Federal gas tax as well as President Biden’s Strategic Petroleum Reserve release announced today.

“The American people can’t afford to fill up at the pump, and there’s no question about it – these surging gas prices rest squarely on the shoulders of President Biden and the Democrats’ anti-American energy policies,” said Senator Marshall. “Now, my colleagues across the aisle want to further increase our debt by throwing a band-aid on the issue at hand instead of addressing the underlying issues and fully unleashing the American energy industry. I’m proud to lead common sense legislation that will provide folks with relief at the pump while loosening the Biden Administration’s choke hold on American energy producers.”

“Since Day One of taking office, President Biden has launched attack after attack on Made in Montana and Made in America energy, and Montana families are paying the price at the pump. We need to stop putting up roadblocks and unleash American energy,” said Senator Daines.

“Since his first day in office, Biden has been undoing Trump’s energy independence initiatives and has now caused the national average for gas prices to soar from $2.39/gal to $4.25/gal in a single year. I’m proud to join Sen. Marshall to reliably lower prices at the pump for Hoosiers and all Americans by stopping the President from implementing harmful regulations that decrease oil and gas production,” said Senator Braun.

“The stated purpose of gas tax holidays or other subsidies is to offset the increase in fuel prices. But this would also increase the demand for fuel, driving the price back up,” said Ed Cross of the Kansas Independent Oil & Gas Association. “A regulation holiday, on the other hand, would encourage an increase in supply, which is the most reliable way to lower prices at the pump.”

Background:

The Gas Prices Relief Act would stop any new rule or regulation from going into effect if it would:

  • Decrease oil, gas, or biofuels production
  • Increase gasoline prices
  • Have negative impacts on energy production, domestic electricity generation, transmission of fuel or electricity

The prohibition remains in effect until either Jan 1, 2023 or until the national average consumer gas price is $2.60 or less. The current national average is $4.25 a gallon. One year ago, the national average gas price was $2.80, it was even less when Biden was inaugurated, averaging closer to $2.40 a gallon.

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