During an interview on "Mornings with Maria," Friday, Rep. Andy Barr, R-Ky., argued the Biden administration is putting environmental and social governance ahead of financial returns as gas prices soar.
REP. ANDY BARR, R-KY.: The Biden administration is making matters worse. And no doubt the Biden administration's canceling of the Keystone XL pipeline and other energy infrastructure projects, its stonewalling of 4,400 permits to drill right now., its refusal to issue new lease sales for oil and gas. All of that is no doubt contributing to these high in record gas prices and energy prices and compromising the reliability of our electrical grid.
But make no mistake about it, Maria. Ground zero for Biden's war against American energy is the weaponization of financial regulation at the Securities and Exchange Commission and at other regulatory agencies. Secretary Yellen is at the center of this. In addition to Chairman Gensler at the FCC, and there is a concerted effort, as you say, and all the government efforts to weaponize financial regulation, to redirect capital, politicized the allocation of capital away from fossil energy. That's why Americans are feeling the pain at the pump right now.
WATCH THE FULL INTERVIEW HERE: