House Republicans See ‘Out of Control Inflation’ as Key Tool to Regain Majority

House Minority Leader Kevin McCarthy (R-CA) walks to speak to media after Ukrainian President Zelenskyy Virtually addressed the at the U.S. Capitol on March 16, 2022 in Washington, DC. Tasos Katopodis/Getty Images

PONTE VEDRA, Fla.—Since taking office last year, President Joe Biden has pursued policies that have weakened U.S. energy security, and as a result, American families are feeling the pain at the gas pump. This is one of the main messages that came out of the House Republicans’ annual retreat this week.

House Republicans gathered in Florida on March 23 for a three-day meeting to lay out their legislative agenda as they strive to reclaim control of the chamber in the upcoming midterm elections.

Republicans accuse the Biden administration of “skyrocketing gas prices” and a lack of “legitimate solutions” to curb inflation.

“Since his first day in office, President Biden has taken steps that threaten America’s energy security, and the effects of those harmful policies are now playing out on the world stage,” Republicans said in a handout titled “Out of Control Inflation.”

Instead of boosting domestic oil and gas production, House Republicans stated, the Biden administration sent officials to meet “with Maduro’s regime in Venezuela to discuss lifting U.S. sanctions on their oil exports to ease rising prices.”

Rep. Elise Stefanik (R-NY), chairwoman of the Republican Conference, said at a press conference on March 24 that a Republican majority in the House would prioritize policies that “unleash American energy” and rein in government spending to bring inflation under control.

She said that her party is united and laser-focused on issues that affect all Americans. Stefanik was elected to her role in May of last year, succeeding Rep. Liz Cheney (R-Wyo.), who was ousted from the position.

At the annual issues conference, GOP members have repeatedly criticized the Biden administration’s decision to cancel the Keystone XL pipeline and stop new oil and gas leases on federal land.

According to Republican Policy Committee Chair Rep. Gary Palmer (R-Ala.), the Keystone XL pipeline would bring in 830,000 barrels of oil from Canada instead of 600,000 barrels from Russia.

The U.S. annual inflation rate surged to 7.9 percent in February, hitting a new 40-year high. Gasoline prices, which have been a key contributor, surged nearly 40 percent over the past year.

Gasoline now costs about $4.24 a gallon on average, according to the AAA Gas Prices website. That’s up from $2.87 a year ago.

Energy analysts predict that higher gas prices will last longer than many expected. Some project that annual inflation will exceed 8 percent in the coming months.

Democrats are considering various relief measures to help Americans struggling to pay for high gas prices.

“They flooded the economy with money, and now they’re talking about handing out $300 a month to help you buy your gas. That will only make inflation worse,” Palmer told reporters.

The U.S. oil industry and the Biden administration have been clashing over who is to blame for higher gas prices.

U.S. shale producers have been hesitant to invest in production, despite high oil prices. They claim they have been discouraged by the Biden administration’s climate policies.

U.S. oil production still stands 1.4 million barrels per day below its pre-pandemic level of 13 million, according to the Energy Information Administration (EIA).

In a speech to House Democrats at their retreat in Philadelphia on March 11, Biden pushed back against the notion that his administration is to blame for the higher prices.

“Make no mistake, inflation is largely the fault of Putin,” Biden said.

The president also accused domestic oil producers of not ramping up their oil production.

“They have over 7,000 permits to dig oil if they want. Why aren’t they out pumping oil? ... So don’t tell me gas prices rose because I’ve slowed down the American energy production.”