A coal-fired power plant is silhouetted against the morning sun on July 27, 2018, in Glenrock, Wyo. As he tries to secure his legacy, President Joe Biden has unleased a flurry of election-year rules on the environment and other topics, …President Biden’s green energy agenda has hiked gas prices, threatened the stability of the power grid and added $1 trillion in new regulatory costs on businesses and consumers, a new House committee report found.
The Republican-led panel blamed the high costs on Mr. Biden’s energy policies, beginning on his first day in office when he canceled the permit for the Keystone XL oil pipeline and imposed a moratorium on new oil and gas leases on federal land. “Climate change poses an existential threat, but responding to this threat offers an opportunity to support good-paying, union jobs, strengthen America’s working communities, protect public health, and advance environmental justice,” White House officials announced shortly after Mr. Biden took office.
The Oversight report accuses the Biden administration of distorting the electricity markets by pumping hundreds of billions of dollars in federal subsidies into intermittent renewable energy generation, mainly wind and solar.