Interior Alaska News

U.S. Senators Dan Sullivan and Ted Budd have introduced the Strategically Lowering Gas Prices Act in Washington. The proposed legislation seeks to restrict the Biden administration from releasing oil from the Strategic Petroleum Reserve (SPR) until executive orders that limit energy development on federal lands are lifted.

Senator Sullivan criticized President Biden's management of the SPR, stating, “President Biden depleted the Strategic Petroleum Reserve to a level we haven’t seen in 35 years, a desperate political maneuver to mask the devastating inflation his policies have unleashed on hard-working families.” He emphasized refilling the SPR with American-produced oil, highlighting national security and environmental standards.

Senator Budd expressed concerns over high fuel costs affecting Americans and small businesses, noting, “Working Americans and small businesses alike are struggling with the high cost of fuel.” He called for a reversal of President Biden's energy policies to promote domestic production and reduce dependency on foreign markets.

Senators Eric Schmitt, Mike Braun, and Pete Ricketts also support the bill. Senator Schmitt remarked on what he views as harmful effects of current energy policies: “Joe Biden’s disastrous energy policies and overzealous regulations have brought Americans’ immense pain at the pump.”

Senator Ricketts added that "The Strategic Petroleum Reserve should be used for real emergencies," while Senator Braun stated that draining reserves should not be permitted to boost approval ratings amid blocks on American energy independence.

Heritage Action Executive Vice President Ryan Walker commented on economic impacts related to gas prices and domestic production, saying: “Depleting emergency oil reserves to artificially lower gas prices—instead of fostering domestic energy production—is Biden’s political ploy.”

The legislative text is available for review. Last week, Senator Budd addressed concerns about SPR levels during a Senate floor speech.