President Joe Biden on Monday is set to announce executive actions to increase renewable energy production while continuing the war on the American fossil fuel industry.
As gas prices reached an eighth consecutive day record high, Biden has focused on more costly and inaccessible green energy. According to Reuters, Biden will “help bridge a solar panel supply gap and kickstart stalled U.S. projects after an investigation froze imports from key foreign suppliers.”
A source with knowledge of the president’s action told CNN that Biden’s energy strategy is to boost renewable energy by using the Defense Production Act.
“As part of his multi-pronged approach to accelerate the transition to clean energy made here in America and reduce energy costs, the President on Monday will invoke the Defense Production Act to rapidly expand domestic production of critical clean energy technologies,” the source told CNN.
Biden is set to meet with Crown Prince Mohammed bin Salman in Saudi Arabia in July. The meeting will reportedly include Biden’s plea to the prince to increase oil production. It is unknown if his effort to get Saudi Arabia to decrease oil prices will work.
But according to the New York Times, the “president’s trip to Saudi Arabia is unlikely to reduce oil and gasoline prices, and it is not clear that anything else he might do would work, either.”
Biden Energy Secretary Jennifer Granholm told reporters on Thursday that American drivers will have to pay at least four dollars a gallon for the foreseeable future. “The price of gas is likely to remain above $4 per gallon,” she estimated based on Department of Energy data.