Yesterday, the Biden Administration announced it would be reversing course and would move to stop imports of Russian oil into the United States market. The Functional Government Initiative announced last week it had begun an investigation into the initial decision to exclude the Russian energy sector from U.S. sanctions. In spite of yesterday’s reversal, FGI’s probe is expected to yield vital information, allowing the American people to better understand the federal government’s energy priorities. While FGI commends this decision, the American people have legitimate concerns about the impact of energy policy on rising prices, not only on energy but also across the economy.

The Functional Government Initiative announced today it is seeking information from the federal government on the decision to exclude the Russian energy sector from US sanctions in response to Russia’s invasion into Ukraine. Oil and gas prices have been on the rise since early 2021, tracking several policy decisions to reduce American oil and gas production move the nation towards alternative sources of energy. Indeed, last year financial titan Larry Fink acknowledged the correlation between the pursuit of “green” policies and the nation’s growing inflation problem.