Energy Department Vows To Reduce Gas, Energy Costs Despite Iran Conflict

As gas and energy prices continue to skyrocket across the country, Secretary Christopher Wright reassured members of Congress that the Department of Energy (DOE) is doing everything it can to reduce costs immediately and in the long-term.

The impact of the war in Iran continues to raise concerns about global energy supplies, as disruptions in the Strait of Hormuz, a major oil transit route, threaten the flow of a significant amount of global oil shipments and push energy and gas prices up.

With the conflict continuing as the two powers traded strikes in recent days, Wright said the DOE understands how “real” the price escalation is for Americans, and is using every available resource to strengthen domestic energy production and affordability.

“We are working every day to drive that down by releasing strategic petroleum reserves, changing regulations on gas formulations this summer,” Wright said. “I could go on with seven other actions, but that is temporary.”

These short-term fixes, though a priority for the department, are not as impactful as engaging in policy work to keep energy costs low, Wright said.

“Democratic policies that drive up electricity prices, gasoline prices, diesel prices, they have been permanent,” Wright said. “And they are a larger factor in energy prices today than the Iran conflict.”

Chairman and Representative Brian Babin (R-TX) said he found it “ironic” that Democrats have continued to stress how foreign policy and military decisions have impacted gas prices.

“This time four years ago, the national average for gas was at $5 a gallon, and they were nowhere to be found,” Rep. Babin said.

Rep. Keith Self (R-TX) said that energy policy under former President Joe Biden, if kept in place after he left office, would have driven gas prices up even more. He added it would also threaten U.S. energy production and exports, particularly liquefied natural gas.

“Our ability to help and support our allies would be hindered dramatically, and the fastest growing export from the United States of America, liquefied natural gas, would have been dead in its tracks on inauguration night,” Rep. Self said.

As a member of the House Committee on Foreign Affairs, Rep. Self said the DOE must keep these foreign policy decisions in mind when allocating its budget.

“It's vitally important we have LNG to ship to Europe, so that we can wean them off of Russian energy,” Rep. Self said. “It is a strategic need of the US.”

But Wright said the DOE understands that war is about ensuring long-term security in the Middle East by preventing Iran from developing a nuclear weapon.

“This conflict will pass, and we will prevent Iran from achieving a nuclear weapon, and long-term threatening energy supplies, and peace and stability in the Middle East,” Wright said. “We will lead to an era of lower energy prices, more abundant energy resources and a more secure and prosperous world.”