The Biden administration’s energy regulations may cost the U.S. economy $100 billion in gross domestic product each year, according to a new report published by the Committee To Unleash Prosperity.
The administration has unleashed a bevy of regulations from several agencies that have distorted energy markets and disincentivized long-term investment in fossil fuel production, which in turn has increased the costs of energy production and consumption to the detriment of the overall American economy, according to the report.
These policies and their ramifications play to the advantage of major oil producers in Asia and the Middle East, some of which are known to use oil revenues to bankroll terrorist organizations, while American consumers and businesses navigate higher costs.
“This study examines what has happened with oil and gas production when we adjust for…
