State Treasurer Curtis Loftis Joins 26 Other State Financial Officers in Letter Warning About the Dangers of Energy Dependence
April 11, 2022
South Carolina Treasurer Curtis Loftis joined 26 other state financial officers in a letter urging the Biden Administration to promote and incentivize traditional energy production in the United States. In the letter, the coalition of officials warn President Biden about the need for American energy independence and the dangers of being reliant on foreign adversaries like Russia, Iran and Venezuela.
“The Russian invasion of Ukraine exposed just how detrimental international dependence on oil and gas has been for countries like Germany, whose commitment to green energy resulted in significant reliance on Russian oil and gas,” the letter states. “This type of energy dependence culminates in weak foreign policy—where nations are dependent on oppressive, expansionist foreign powers just to keep their lights on.”
The group wrote that it believes the Biden Administration should spearhead a call to invest in American energy instead of pursuing ESG initiatives that divide American energy businesses and discourage investment in these reliable energy industries. The letter goes on to ask that President Biden support traditional energy industries in their desire to ramp up production in the U.S. by providing certainty on oil and natural gas leasing by compelling the Department of Interior (DOI) to meet deadlines and honor its obligation to lease on federal lands and waters.
“We know that rising energy costs are ultimately passed on to American taxpayers, and it’s time that President Biden prioritized the needs and economic interests of American families over special interest groups,” said State Treasurer Curtis Loftis.
The letter in its entirety can be found here.
In addition to Loftis, co-signers to the letter included Alaska Commissioner of Revenue Lucinda Mahoney, Arizona Treasurer Kimberly Yee, Arkansas Auditor of State Andrea Lea, Arkansas Treasurer Dennis Milligan, Florida CFO Jimmy Patronis, Georgia Treasurer Steve McCoy, Idaho Treasurer Julie Ellsworth, Indiana Treasurer Kelly Mitchell, Kentucky Auditor Mike Harmon, Kentucky Treasurer Allison Ball, Louisiana Treasurer John Schroder, Mississippi Treasurer David McRae, Missouri Treasurer Scott Fitzpatrick, Nebraska Treasurer John Murante, North Carolina Treasurer Dale Folwell, North Dakota Treasurer Thomas Beadle, Ohio Treasurer Robert Sprague, Oklahoma Treasurer Randy McDaniel, Pennsylvania Treasurer Stacy Garrity, South Dakota Auditor Richard Sattgast, South Dakota Treasurer Josh Haeder, Texas Comptroller Glenn Hegar, Utah Auditor John Dougall, Utah Treasurer Marlo Oaks, West Virginia Treasurer Riley Moore, and Wyoming Treasurer Curt Meier