Republicans are unveiling their own ideas to help Americans feeling pain at the pump.
US Representative Michelle Fischbach of Central Minnesota has introduced the Gas Prices Relief Act, in conjunction with GOP members from both houses of Congress. The bill would forbid any federal agency from putting into practice a rule or regulation that decreases oil or gas production, increases gas prices, or has potential negative effects on the country’s energy infrastructure. Fischbach’s bill says the actions represent an energy regulations holiday. It would stay in effect until January 1st or when the national average for a gallon of gas falls below $2.60. Prices were at $2.39 when President Biden was sworn in early last year.
The Administration wants to issue rebates to consumers directly to help with energy costs. It is also proposing more withdrawals from the Strategic Petroleum Reserve. Biden is hoping to put an additional million barrels of oil per day onto the market for six months. A barrel of oil is equal to 42 gallons of black gold. Roughly 20 gallons of gas are refined from that, plus diesel fuel, plastics, petroleum jelly and many other products.