Press Releases

U.S. Congressman Garret Graves released the following statement:

“Right now we have record high gasoline and utility costs, and Americans can’t afford to make ends meet – this energy plan makes it even worse. You really have to wonder how many times President Biden has to burn his hand on the stove before he stops making the same mistake,” Graves said. “With growing oil and gas demand, it is baffling that the President of the United States would basically cede energy production to countries like Russia, China, Iran, and others. We could be producing oil and gas offshore in Louisiana while creating better jobs and attaining energy security, lower emissions, and more affordable prices. We will continue to fight for common sense.”

Since the inception of the five-year plan decades ago, the average number of lease sales offered has been 24.5 sales over five years. The Obama Administration offered the fewest ever, at 11 sales. Earlier today that record was broken when the U.S. Department of the Interior announced they will only hold three lease sales in the Gulf of Mexico between 2023 and 2029.

Global oil and gas demand is expected to increase 23 percent by 2045. This plan will reduce the United States’ supply by nearly one million barrels per day (which is approximately 1 percent of global supply). Basic economics dictate that when demand goes up and supply goes down, prices will spike.

This plan will also result in an increased reliance on foreign energy sources instead of from U.S. production in the Gulf of Mexico, where energy development has half the emissions portfolio when compared to other producing regions. As a result, this plan will increase global emissions by 50 million-100 million metric tons through 2040.