Cruz announced on Friday his new bill, the Energy Freedom Act, in a press release in which he blasted President Biden for having led America to lose our "status as a net petroleum exporter" with his energy sector executive orders.
"These policies have poured billions of dollars into countries such as Russia and Iran, which use those funds to attack our allies and undermine the national security of America," Cruz said in his release.
"President Biden has imposed more restrictions on U.S. oil companies than he has on Russian oil," the senator continued. "With Iran, he has looked the other way as the regime busted through sanctions and raised their exports to more than one million barrels per day for the first time in almost three years."
Cruz also said he was introducing the Energy Freedom Act "to reverse Biden’s actions so we can restore American energy independence" and that the bill "won’t cost taxpayers a dime" while creating "billions in revenue in the coming years" for the U.S. "by expediting permitting, leasing, safe new pipelines, and exports, and providing much needed regulatory certainty."
"It would create new jobs, lower energy costs, and because modern energy production in the United States is far cleaner than in any other country’s by every measure, it would help the environment," Cruz said. "The Energy Freedom Act would put a stop to the Biden administration’s sabotage of the American energy industry, and Congress should take it up without delay."
The Texas Republican’s bill comes as Americans across the nation are experiencing skyrocketing gas prices.
Republicans have long pushed for U.S. energy independence and Russia's invasion of Ukraine has only amplified those calls.
Several House members have also introduced legislation taking aim at Russia’s primary market and Achilles’ heel: the energy sector.
Rep. August Pfluger, R-Texas, introduced the Republican Study Committee-backed Midland Over Moscow Act last month that would require Biden to create a plan to beef up U.S. energy security while pushing back on Russia, reapply sanctions onto the Russian Nord Stream II pipeline, and make it easier for American companies to export liquid natural gas.