Critics of Biden’s Proposed Oil-and-Gas Industry Taxes Fueled by Gas Shortages

Gas shortage "out of service" stickers

Gas shortages on the East Coast have helped rally Congressional opposition to the portions of President Joe Biden’s infrastructure plan that would force oil and gas companies to pay more in taxes.

House Republicans sent a letter to House Speaker Nancy Pelosi, D-Calif., and House Majority Leader Steny Hoyer, D-Md., calling on Democrats to oppose Biden’s plan to “eliminate tax preferences for fossil fuels.”

The letter, signed by 55 Republicans, came after a cyber attack of Colonial Pipeline shut down a major pipeline on the East Coast and led to fear-driven gasoline shortages. The attack also raised questions about the nation’s energy infrastructure and vulnerability to attack.

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Gas Shortage and Price Hike Expected This Summer

A gas shortage is expected this summer not because there won’t be enough fuel but because there aren’t enough highly trained and licensed tanker drivers to transport it.

Many tanker drivers retired last year after demand for oil and gas plummeted because fewer people were traveling during the height of the pandemic. And most driving schools where new drivers could have received their training were closed due to state-mandated shutdowns. The two factors combined is resulting in a shortage of roughly 25% of tanker truck drivers needed to transport fuel, says the National Tank Truck Carriers, the trade association representing the tanker truck industry.

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