Tyler Reporter

Lance Gooden, a U.S. Congressman representing Texas' 5th District since 2019, has expressed his views on energy policy and the credit card market through a series of tweets. Known for his outspoken stance on various issues, Gooden shared insights regarding oil drilling policies and financial market competition.

On November 18, 2024, Gooden criticized past energy policies by stating that "In 2021, Joe Biden begged dictators to drill for oil on foreign soil." He contrasted this with future plans under a potential Trump administration in 2025, suggesting that President Trump would advocate for domestic oil drilling.

The following day, November 19, 2024, he highlighted concerns over the credit card industry's lack of competition. He noted that "Today, the Senate Judiciary Committee will hold a critical hearing on the lack of competition in the credit card market." Gooden pointed out that two companies control a significant portion of the market and earn substantial profits from swipe fees. He promoted the Credit Card Competition Act as a solution to increase market competitiveness.

Later that day, Gooden further elaborated on the issue by mentioning specific companies involved in these practices. He stated that "Visa and Mastercard charge a 2-4% hidden swipe fee every time you use a credit card." He criticized these companies for their spending habits and political contributions while reiterating support for legislative measures aimed at dismantling their duopoly.