[Congressional Record Volume 167, Number 184 (Wednesday, October 20, 2021)]
[Senate]
[Page S7134]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                          BIDEN ADMINISTRATION

  Mr. HOEVEN. Mr. President, I rise today to talk about the harmful 
impacts that President Biden's policies are having on the global supply 
chain and consumer energy prices.
  Americans today are facing the highest increase in costs for goods 
and services in over a decade, with inflation now more than 5 percent 
and rising. Similarly, our workforce participation rate is stagnant. 
There are still 4.3 million fewer workers today than there were in 
February of 2020. Nationally, there are more than 10 million job 
openings--more than in any other year.
  Record high job openings, coupled with rapidly increasing consumer 
demand, is causing disruptions to global supply chains and further 
increasing costs, increasing inflation. Rather than working to spur 
economic growth, encourage workforce participation, and return our 
economy to growth, as we saw with the last administration, President 
Biden and the Democrats in Congress are focused on raising taxes and 
enacting harmful, job-killing policies.
  A prime example of what I am talking about--harmful policies being 
pushed by the Biden administration--is the Green New Deal that will 
hinder domestic energy production and increase the expense for every 
American household.
  Affordable and reliable energy is foundational to our economy, 
quality of life, and national security. Across the country and in my 
home State of North Dakota, we are seeing energy prices rise across the 
board. Drivers are paying more for fuel at the pump, and homes and 
businesses are prepared for record high heating costs as we go into the 
winter months.
  Because the cost of energy is built into virtually every product we 
consume, we are seeing the inflationary pressures of higher prices on 
goods across the entire economy, all the way to the dinner table. For 
an energy-rich nation such as ours, the situation we find ourselves in 
is unacceptable, and it is certainly avoidable.
  In the first week of his administration, President Biden yanked the 
permit for the Keystone XL Pipeline and halted new oil and gas leases 
on Federal lands and offshore. President Biden's party has also called 
for new taxes and fees on American energy production.
  In addition, the Biden administration is promoting foreign energy 
production as he stifles energy production here at home. He has allowed 
completion of Russia's Nord Stream 2 Pipeline while calling on Russia, 
Saudi Arabia, and other OPEC nations to increase more oil production. 
Think about that. At a time when he is holding back energy production 
in our country--oil production in our country, he is asking OPEC, Saudi 
Arabia, and Russia to increase oil? It defies common sense. Think about 
it.
  If the Biden administration continues down this path, it will not 
only cause further increased prices for consumers, but it will 
undermine our energy independence and harm our national security by 
forcing reliance on foreign energy production.
  It is time we recognized the fact that our country's vast oil, gas, 
and coal resources are a strategic national security and economic 
asset. As we have seen over the past decade, greater U.S. energy 
production has strengthened our national security and lowered energy 
prices for hard-working American families.
  The fact is, we should be focused on increasing economic growth, 
encouraging workforce participation, and restoring our economy to its 
prepandemic highs. Support for our domestic energy production is a 
vital step to bringing down prices for consumers, and we need to do it.
  With that, I yield the floor.

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