Rep. Crenshaw: Oil Companies Are Not Producing More Because Biden Threatened to Tax and Regulate Them out of Existence

EXCERPT:

CRENSHAW: "And so, they do all of these things, they double down on penalties, they punish the oil and gas industry, and then Biden turns around and says, 'Why aren’t these greedy profiteers just producing more?' Well, they're not producing more because you put such a chilling effect on their industry. Investors won’t invest in an industry that might be taxed or regulated out of existence. They aren’t going to invest in an industry that can’t get the leases it needs to start those drilling. You know, look, I also debunked the lie that the administration told about the 9,000 permits out there. That’s a misleading number. It takes a lot more than just a permit to start drilling. A lot of pieces of the puzzle have to fit together. You need the additional leases to get your rights away figured out, you have to get your environmental permits. It doesn’t all just happen at once.”