McCarthy: U.S. and Europe “Sending $700 Million a Day to Russia” for Oil While Biden Shuts Down American Energy Production

On 3/2/2022, House Republican Leader Kevin McCarthy delivered a floor speech revealing that the U.S., EU, and UK were collectively sending $700 million per day to Russia for oil — directly funding Putin’s war against Ukraine. McCarthy argued Biden had made America and Europe dependent on Russian energy by shutting down domestic production, killing the Keystone Pipeline, halting federal land leases, and slow-walking LNG exports. He introduced legislation to immediately approve Keystone, remove LNG export restrictions, and restart federal leasing.

”$700 Million a Day”

McCarthy opened with the headline figure. “Today, the United States, European Union, and the UK combined are sending $700 million a day to Russia to buy their oil. Every day,” McCarthy said. “That’s funding his war against Ukraine.”

“If we opened up American energy, we could supply that need that President Biden shut down,” McCarthy continued. “But you just think about it — when people are paying at the pump too much right now in America, but all across Europe, not only is it hurting families, it’s funding Putin.”

From Energy Independence to Dependence

McCarthy traced the reversal. “Over the past decade, we’ve had every opportunity to lead. During the previous administration, we were energy independent and a net exporter of energy for the first time in 50 years,” he said. “Today, however, we have an administration that crippled domestic production.”

“This administration has increased its daily reliance on Russian oil by 34 percent,” McCarthy revealed. “Meanwhile, it’s slow-walked oil and natural gas exports to our allies in Europe. In doing so, it made Europe more reliant on Putin.”

The numbers were stark. “Today, 40 percent of natural gas and 25 percent of crude oil in Europe comes from Russia,” McCarthy said. “The Biden administration has made the free world dependent on the deposits of oil and natural gas from Russia. We all know that is shameful.”

American Gas Is 42% Cleaner

McCarthy turned the Democrats’ own climate argument against them. “If you’re like me and you’re concerned about the environment, do you realize that American natural gas is 42 percent cleaner than Russian natural gas?” he asked.

“That crude oil could have come from Canada and been refined in America if President Biden hadn’t pulled the plug on the Keystone Pipeline,” McCarthy said. “That natural gas that goes to Europe — it could have come from America, from our federal lands and waters where President Biden hasn’t approved a single new lease. Not one. He’s actually shut them down.”

The Legislation

McCarthy introduced a bill with three components. “It immediately approves the Keystone Pipeline because we’ve waited long enough. We can’t afford to wait a minute longer,” McCarthy said. “It removes all restrictions on liquid natural gas exports so we can become an arsenal of energy for the free world. And it restarts the leases on federal lands and waters which are being held up by the Biden administration.”

He also called out six LNG export permits sitting on the Secretary of Energy’s desk. “Those six permits that sit at the desk of the Secretary of Energy that could take money away from Putin, provide American jobs, and provide Europe with cleaner natural gas from America — still sit there to this day,” McCarthy said.

”The Whole World Is Watching”

McCarthy framed the vote as a test of American resolve. “It’s not difficult. There won’t be any pressure. All the members have to do is walk onto the floor, take the card out of their pocket, put it in the little box,” McCarthy said. “Everybody in the world is watching.”

“The sad part, Mr. Speaker — I bet if this bill was on the floor in any country in Europe, it’d be a 100 percent vote for,” McCarthy added. “I’ll be watching. I think America will be watching. Will we stand for America and for freedom?”

Biden’s Energy Record

McCarthy catalogued the broader energy policy failures. “President Biden, by shutting American energy down, has made our country more dependent on Russia. He was actually begging Russia to produce more oil,” McCarthy said. “The sad thing is, Putin did.”

He noted the White House had suggested high gas prices were acceptable. “I know at the White House when they were asked this question, they said it’s okay that the price is high because that way somehow it helps them with climate change, that they could get more renewable energy,” McCarthy said. “Well, Mr. Speaker, that’s a tax on all Americans, especially low income.”

Key Takeaways

The U.S., EU, and UK were sending a combined $700 million per day to Russia for oil — directly funding Putin’s invasion of Ukraine.
Biden had increased America’s daily reliance on Russian oil by 34% while crippling domestic production and killing the Keystone Pipeline.
American natural gas is 42% cleaner than Russian natural gas, undermining the climate argument for restricting domestic production.
McCarthy introduced legislation to approve Keystone, remove LNG export restrictions, and restart federal land leases.
Six LNG export permits sat unsigned on the Secretary of Energy’s desk — permits that could redirect European energy purchases from Russia to America.

Transcript Highlights

The following is transcribed from the video audio (unverified — AI-generated from audio).

The United States, European Union, and the UK combined are sending $700 million a day to Russia to buy their oil. Every day. That’s funding his war against Ukraine.
This administration has increased its daily reliance on Russian oil by 34 percent.
American natural gas is 42 percent cleaner than Russian natural gas.
President Biden hasn’t approved a single new lease on federal lands and waters. Not one. He’s actually shut them down.
Those six permits that could take money away from Putin still sit at the desk of the Secretary of Energy to this day.
Everybody in the world is watching. Will we stand for America and for freedom?

Full transcript: 889 words transcribed via Whisper AI.