AUSTIN, Texas – President Joe Biden’s Green New Deal policies are “if not directly, definitely indirectly” costing Americans at the pump, said Texas Gov. Greg Abbott (R) in an exclusive interview with Breitbart News.
“I’ve talked to the oil and gas producers in [my] state, and they say that one reason why they’re not drilling more is because of inadequate access to capital… [T]he large capital enterprises in New York and some other places, they’re not providing the capital to the drillers to drill more, to produce more,” explained the governor of America’s leading state in oil production.
For years, environmentalists have used different tactics to fight so-called “climate change.” Today those methods include targeting banks that lend to fossil fuel producers in an effort to shut down their money pipeline.
“Getting lenders to choke off money to fossil fuel companies is the next needed move for the industry to address the material risks that the coal, oil and gas industry faces,” Leslie Samuelrich, president at investment advisory firm Green Century Capital Management, told CNBC in April.
“This is simply demand and supply,” Abbott explained further. “There is not as much supply as [there] would be if [drillers] were getting the financing, [and] because of that, inadequate supply is driving up the price.
According to AAA on Monday, the national average price for a gallon of gasoline increased for the previous 27 days. Today’s national average, $3.38, is 20 cents more than a month ago and $1.22 more than a year ago.
President Biden’s decision to revoke the Keystone XL pipeline permit and other decisions to reduce oil drilling in the United States in favor of a “green” agenda has cost the United States its energy independence achieved under President Donald Trump. “You’ve seen over the past week at least once, maybe twice, the Biden administration has been kind of asking, if not begging, the Middle East, to produce more oil so that the price of energy will go down,” observed Abbott.
Watch: ‘Let Us Do Our Thing’ – Abbott Tells Biden Texas ‘Can Produce the Oil, Make Sure Everyone Gets Their Toys by Christmas’Matthew Perdie, Jack Knudsen
This higher energy cost is leading to inflation across America, Abbott added, a problem that he called “another flaw in the Biden Administration.”
“That inflation is a tax, especially on [the] middle class in America.”
Abbott’s comments come as part of a wide-ranging interview for the latest edition of Breitbart News’s On the Hill video series, which will be released in the coming weeks.