Biden: "Earl Had Me Ride Here on a Bicycle, But I Don't Mind. I Got a New One”

The Biden administration also unveiled two new programs earlier this week, established by the bipartisan infrastructure law, that will provide $20 million worth of rebates to replace old transformers and upgrade electric motor systems, according to the Department of Energy.

Along with the recent Strategic Petroleum Reserve release and the waiver to permit the summer use of E15, this week the Biden administration announced that it would resume onshore oil and gas lease sales on federal land, with a higher royalty rate for companies to pay to the federal government.