President Biden admitted at a CNN town hall Thursday night that he had no immediate solution to the problem of soaring gas prices and suggested that Americans would only start seeing relief at the pump until next year.
“I guess you’ll start to see gasoline prices drop as we get through the winter – I mean, sorry, next year, 2022,” the chairman told moderator Anderson. Cooper at the Baltimore event.
“I don’t see anything happening in the meantime that will significantly reduce gas prices.
“I have to tell you that I have no short-term answer,” Biden added before considering the possibility that he could “go into the [Strategic] Reserve oil and pull out and probably reduce the price of gas maybe about 18 cents per gallon, [but] it’s always going to be over three dollars.
According to AAA, the national average price of a gallon of regular gasoline hit $ 3.36 on Thursday, up four cents from Monday’s average. The organization noted that no state has an average gasoline price below $ 3 a gallon.
In Gorda, Calif., On the state’s central coast, a gallon of unleaded sold for $ 7.59, while Fox 5 reported last week that Manhattan motorists were paying nearly $ 5 a gallon to make full.
AAA attributed the surge in prices to strong demand, high crude oil prices and declining gas inventories – which Biden sought to blame on OPEC and its oil-producing allies in the Middle East on Thursday.
“The gas prices are tied to a foreign policy initiative that concerns something that goes beyond the cost of gas… This is because of the supply held back by OPEC,” he said, “And so there’s a lot of negotiations that are … there’s a lot of people from the Middle East wanting to talk to me.” I’m not sure I’ll talk to them, but the point is, it’s about gas production.
Republicans blamed Biden for pushing up energy prices, citing his administration’s continued inflationary spending policies as well as the president’s cancellation of the Keystone XL pipeline in his first day in office.
“Gas prices are at their highest since 2014 and Americans’ heating costs could increase by up to 54% this winter,” the Republican National Committee said. @RNCResearch account tweeted in response to Biden’s remarks. “Biden attacked American energy, and now the Americans are paying the price! “
“The answer is ultimately, which ultimately means the next three or four years, invest in renewables,” insisted Biden, who also touted the announcement of the “big three” US automakers in August that electric vehicles will represent between 40 and 50 percent of their sales by 2030.
“So what’s going to happen is you’re going to see a dramatic drop, a dramatic drop, in what’s going to happen in terms of gas prices over the next two or three years,” the president promised. .
But in the meantime, Biden admitted, “It’s going to be tough. It’s going to be hard. There is a possibility of being able to knock it down. It depends a bit on Saudi Arabia and a few other things coming up. ”