President of the American Petroleum Institute Mike Sommers discusses Biden’s electric vehicle policy after Sen. Barrasso pressed Energy Secretary Granholm at a Senate hearing. #FoxNews
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Why is the Biden Administration trying To ban cars and trucks the Administration is not trying to ban Anything the administration through the EPA is trying to reduce emissions and The emissions can be best reduced Through electrification but There is not in any effort to ban Vehicles internal combustion engine Vehicles Republican senator John Barrasso an energy secretary Jennifer Granholm butting heads during a fire he Sent a hearing yesterday Grant home on The defense over the Biden Administration's push for electric Vehicles Mike Summers president and CEO Of the American petroleum Institute it's Interesting to me like when they Announce this President Biden was in Ireland they had Michael Reagan of the EPA do it I don't think it went as well For them as they thought it was going to Because here's the president trying to Remake the entire entire Auto industry And he doesn't even take any questions On it this is a policy that's only good For China all of these materials that we Need to make electric vehicles are all Processed or produced in China right now We have a vehicle Fleet that is almost Entirely made here in the United States And unfortunately this policy is bad for Americans because it's going to increase Costs for American consumers and only

Source all of these products in China I just saw a chart this morning about All the electric vehicle batteries and How many are made in China and it is it Is almost off the charts it's almost 100 It is it lithium Cobalt all the copper That we're going to need to supply these New electric vehicles it's going to be a Huge challenge for America at a time When China is our biggest geopolitical Risk the problem with that I mean just To tell off what Dana's saying it's a Double it's a double whammy out of China Because you're getting all the the Minerals from there but they're put up a Coal plant every 13 days in China that's Exactly right Bill we've we're at a Point where this country could be energy Independent if we just had the policies In place to be energy independent so We're indoor we have endorsed a plan we Have a plan we have hr1 of course that Would just pass the House of Representatives API has a make move and Improve plan that is a 10-point agenda That if Congress enacted we could be Energy independent again well if only Right she you know you can use the Phrase you want she doesn't want to use Reduce I mean pair back here I mean you Know pick your poison there I thought What Joe manchin said in that hearing Was very telling so you know West Virginia right coal State he said let

The market go where it's going to go What he's saying is allow the consumer To determine what succeeds and fail then Why did he vote for the inflation Reduction well let's let's think about What actually has happened over the Course the last decade the United States Has actually been able to replace coal As the primary power source because of Markets not government we've been able To report replace coal with natural gas Which is a cleaner burning fuel 50 Percent cleaner than coal and it had Nothing to do with the government Incentive it had everything to do with Markets because we were producing more Here and we reduced costs we want to Export that environmental progress all Around the world but unfortunately we Don't have the policies in place to do It we're doing it we were doing it like We are headed into summer months it's Going to be a little bit warmer that's Also when the government then decides to Change some fuel Blends Guys prices are Already headed on the way up here's also Secretary granholm yesterday on what she Says they're trying to do to reduce gas Prices One of the actions that we took last Year in the wake of the war and the the Supply constraint was to release from The Strategic petroleum reserve the gas Prices fell by about a dollar fifty a

Gallon at that point Um oil traded on a global market OPEC Decides to cut production that's a Problem we want to encourage domestic Production this year we will be at a Record level of domestic production in The United States ooh those members of Congress must have been irritated hey The gas prices Now versus a month ago 344 a month ago today 368 and we're Heading in the summer months what's the Outlook for consumers and families out There in the summer here's the biggest Concern about what Jennifer granholm Just said she has drained the Strategic Petroleum Reserve to levels that we Haven't seen since 1983 when Ronald Reagan was President the biggest problem Is is that since then we actually use 20 Or oil today we're at a dangerously low Point for the Strategic petroleum Reserve so we need to get that back Filled up now so when are they going to Do that Mike and what's it going to cost Well they're saying they're going to be Doing that sometime by the end of the Year I doubt it given where we expect Gas prices to be going so the big most Important policy that we can pursue now Is an American Energy policy Unfortunately this Administration has a Political policy not an energy policy we Need to be producing more here so what's API doing to try to push back against

That so every single day we're working With our best colleagues on Capitol Hill We're trying to advance American Energy We have an agenda that would actually Produce more here in the United States It's an agenda that the American people Have embraced and it's an agenda that This Biden Administration has turned Away from every single time we'll see if They change if the pain gets too too Tight and too high good to have you in New York thank you great to be here nice Seeing person thank you thank you have a Great weekend thank you