Gas prices have experienced a significant shift under different administrations, with the cost per gallon now at its lowest in over four years, having previously soared above $5 under President Biden.
As reported by The Blaze, the national average for regular gasoline currently stands at approximately $2.85, with an increasing number of stations offering prices below $2, providing a substantial financial reprieve for working families.
The decline in gas prices offers immediate relief to households concerned about affordability and alleviates pressure on the broader economy. According to GasBuddy, Americans are collectively saving $400 million per week at the pump compared to the same period last year. While the reduction in fuel costs is a cause for celebration, further efforts are necessary to sustain these gains and potentially lower prices even more.
The One Big Beautiful Bill Act, often associated with tax cuts, may emerge as one of the most impactful pro-energy laws in recent years. Lower gas prices are not coincidental but rather the result of deliberate policy decisions, notably President Trump's reversal of the Biden administration's anti-energy agenda. This agenda, influenced by radical environmental activists, aimed for a rapid transition away from oil and gas, irrespective of the costs involved.
President Trump acted swiftly to reverse many of these decisions, issuing several energy-focused executive orders to restore certainty for producers. His legislative triumph, the One Big Beautiful Bill Act, combined broad-based tax relief with policies aimed at reestablishing American energy dominance. The bill reduces production costs by repealing the Inflation Reduction Act's fee increase on oil and gas produced on federal lands, cutting the fee by 25% to make domestic production more appealing and affordable.
Equally significant, the OBBBA reinstates predictability in federal leasing by mandating nearly 40 offshore oil and gas lease sales in the Gulf of America, Alaska, and other regions. It also establishes quarterly onshore lease sales and biannual offshore sales, providing the private sector with long-term certainty. Under President Biden, leasing nearly came to a standstill, with fewer leases issued than at any time since the 1960s, stifling future energy projects.
The bill also repeals or tightens various Green New Deal-style tax credits that heavily subsidized renewables at the expense of oil and gas. These credits obscured the true costs of renewable projects and distorted electricity markets, contributing to grid instability and higher energy prices. The OBBBA's bottom line is straightforward: it encourages increased oil and gas production at a reduced cost, ensuring a steadier supply of crude for affordable gasoline over the next decade.
However, Congress and the administration must continue their efforts to secure these gains and further reduce prices. Permitting reform is a top priority, as energy projects often take longer to permit than to construct. Environmental reviews, initially intended to inform decisions, have evolved into protracted processes that can last for years, with approved projects potentially being delayed indefinitely by duplicative reviews and lawsuits from activist groups.
The America First energy dominance strategy is proving effective, with families reaping tangible financial benefits. While the House has passed several pro-energy permitting reforms, meaningful collaboration with the Senate is essential to deliver a comprehensive overhaul to the president's desk. Without permitting reform, the full advantages of the OBBBA's energy provisions will remain unrealized.
The lesson is evident: energy dominance is achieved when the government steps aside. If permitting reform progresses next year, producers will gain the certainty and speed necessary to provide consumers with reliable, affordable energy. By 2026, Congress should complete this task.
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