CNN Helps Biden Take Credit for Falling Gas Prices He Couldn’t Control Before

With the steady increase in gas prices over the past few months, the Biden Administration and the liberal media routinely stated that the prices were not the President’s fault and he could not do anything to change them. But on Monday’s CNN Newsroom with Ana CabreraBiden simply rolled up his sleeves to create an entirely different story. Gas prices fell suddenly as a result. Biden is always the hero and never the villain.

Amos Hochstein, a Biden energy advisor, joined Cabrera on Monday afternoon as they discussed these decreases in prices and Biden’s role in it all.

 

Cabrera asked Hochstein about the comparison between this year’s gas price, currently an average of $4.50, and last year’s gas price averaging $3.17. “Is [the goal of] $4 as good as it gets?” she asked, teeing him up for a rosy projection.

“Look, last year was before we had a war in Ukraine, before the amassing of troops and including the third largest oil producer, Russia, as a player in a war. We have seen and experienced some difficult times in energy markets because of this. And the President took a lot of steps over the last six months to be able to alleviate the price,” Hochstein responded the same routine answer that the public had been hearing constantly.

He added that the President has been working for months to decrease the pump price. That Biden had “released a million barrels a day from the strategic petroleum reserve,” stating that “that’s the most anyone has ever done.”

In addition, Hochstein suggested their tough talk was winning the day, saying, “we’re holding the industry accountable… we’ve told them we want them to bring down the prices. And I think, so far that’s working.”

According to Hochstein, analysts that were reporting on prices rising were “trying to scare the American public,” as he so cheerfully encouraged Cabrera to “focus on the achievements that we have made as a country and be more confident with where we are going.”

On CNN’s Don’t forget Lemon tonightKarine Jean Pierre, White House Press Secretary, struggled last month to defend continuously increasing gas prices as well as the economic crash.

In an effort to keep his good reputation, Pierre noted, “we got to remember, we got to remember, we’re thinking about gas prices and food. This is coming from Putin’s war against Ukraine. The moment that Putin amassed forces on the border of Ukraine, we saw from then until now, we have seen a $2 increase per gallon of gas.”

This is the essence of the story. Rising prices weren’t because of Biden’s runaway spending and cutting of domestic production, but he’s suddenly the hero by nibbling at the margins.

FedEx and Febreze sponsored this segment. This link will take you to their contact information.

For a complete transcript click on “expand”.

CNN Newsroom with Ana Cabrera
07/18/22
Eastern at 1:32.32

ANA CABRERA – Americans finally feel some relief at the pump. For the 34th consecutive day, the price per gallon is down. The national average currently stands at $4.52 per gallon. While still quite high, the Biden administration is beginning to offer hope for a $4 future.

(Cut off to video).

BRIAN DEESE W.H. ECONOMIC COUNCIL – We expect to continue to see gas prices drop for the remaining month, and then hopefully it will fall closer to $4/gallon nationwide.

[Transition]

AMOS HOCSTEIN: I anticipate it will come down towards $4. We already have gas stations all over the country which are less than $4.

(Cut to Live)

CABRERA: Now I have Amos Hochstein, the senior State Department advisor for Global Energy Security. Thanks so much, Amos, for coming in.

To put it in perspective, one year ago, our average gallon cost was $3.17. Is that realistic for us? Does $4 seem like the most affordable price you can get?

HOCHSTEIN (Ok, so first of all, thanks for having me. It is a pleasure to meet you.

Remember, this was last year before there was a conflict in Ukraine. This is before Russia’s third-largest oil producer became an active player in wars. We have seen and experienced some difficult times in energy markets because of this. Over the six-month period, the President made a number of efforts to lower the price.

To do this, we must lower the oil price. Just a month back, oil prices hovered at $120 per barrel. Before we made the announcement about our Middle East trip, oil prices were at over $120 per barrel. Today’s prices have dropped to $100 and $101 per barrel. The President also put pressure on oil companies and gas stations, saying, “When oil prices drop, let the gasoline prices at the pumps go down as quickly as they have fallen.”

This is what we have seen. And I’ll tell you, you’re right, the average is about $4.52, so $.50 lower than it was a few weeks ago, but most Americans, the most common price today in America is already below $4. As a result, I anticipate that it will drop a bit more as a consequence of our actions.

CABRERA: I wonder how quickly we will see what might become the low.

HOCHSTEIN (You know that it’s hard to say). It’s not my intention to predict dates. Our actions will not stop. This is how we ensure that the United States has enough resources to supply enough oil for the global market. It also helps to ensure that producers all over the globe do their best to meet European production standards during wartime. To ensure that gasoline prices are as accurate as possible and that they fall as low as possible, domestically.

Look at all the actions we have taken. A million barrels of strategic oil reserve have been released daily by President Obama. That’s the most anyone has ever done. And we’ve done that in order to give breathing room to the industry, to bring that up.

But we’re not- but we’re holding the industry accountable. We sent them a letter, we’ve met with them, we’ve told them we want them to bring down these prices. It seems that so far it’s been working. We have to also do things domestically in the United States. You can’t do this alone. It is important to work internationally with our producers as well.

CABRERA What makes you believe that gas prices will continue to fall?

HOCHSTEIN (German): It’s hard to predict long-term where the world will go. The market and the world are unpredictable. We’re going to keep doing– the President wants us to keep doing whatever we can on a day-to-day basis make sure that there are prices that are lower and lower for the American consumer, while taking the fight to Putin and making sure he doesn’t have the revenues to execute a war of horrific consequences in Ukraine.

It is necessary to simultaneously do these two things. The confidence comes from the fact that I think that our – the work that the President is doing internationally combined with what he’s doing domestically, I think, is answering that need. We are therefore seeing low prices.

Ana, remember that just weeks ago, banks in America predicted that gasoline prices will rise to $6 and $7 this summer. The analysts predicted that oil would rise to $300/$180 this summer and $800 by the end. And, now those same analysts are now saying, “prices are down but they’re going to go up later.”

They are always out to terrorize the American people. Let’s not worry about the scare tactics. Instead, let us focus on what we have accomplished as a country. We can be confident in where we are headed. Although $4 isn’t enough, it’s still a great deal better than it was just a few short weeks ago.

CABRERA – It is. You are better.

Just a few minutes ago, you were with President Saudi Arabia. He had that meeting in Saudi Arabia with Crown Prince MBS. It was oil, supply and prices that were discussed. Was the President able to make any promises about Saudi Arabia regarding all matters energy?

HOCHSTEIN – The trip was all about many things. Right? Right?

We made history by flying from Israel directly to Saudi Arabia. This has never happened before. This is the first time that Israel has announced its opening to Israeli planes over Saudi Arabia. This is also important because it was the longest cease-fire that we’ve ever seen. It took place after seven years, with thousands of Yemenis dying. Saudi Arabia announced that they would extend this cease-fire. As we deal with a nuclear Iran, these issues are crucial.

But in an energy crisis we are facing in Europe and high US prices, as well as a war in Europe by Russia since the invasion in Ukraine, energy has been brought up during these discussions. And before the President even agreed – announced his trip to Saudi Arabia and to the Middle East, days before, a week or two before, we saw OPEC already then taking a critical step for the first time in nine months to change their attitude and to say we’re going to increase production.

CABRERA: Right. They have continued to do so since.

HOCHSTEIN : They have.

CABRERA: They stated that they would increase July and August.

HOCHSTEIN: That’s right.

CABRERA: I think so. But it’s the reason why I am curious if this meeting has pushed us forward. He did not make any promises, but he didn’t say anything new.

HOCHSTEIN : I believe that we did meet with Saudi Arabia when we were in Saudi Arabia. We did not meet with OPEC. So, let’s give it a few weeks and see in a few – over the next several weeks and months. We have a shared understanding between the United States President and OPEC producers that oil must be available to the U.S. to continue its growth.

These understandings have been reached, I am confident that actions will be taken in the coming weeks and months to implement them. This is why it’s important to continue doing this type of work. It can be very hard, but it is necessary to continue doing this kind of work. Although it doesn’t always produce results the first day, results are often achieved the next day.

CABRERA : I’m glad you came in.

HOCHSTEIN – Happy to be there.

CABRERA: Amos Hochstein. Thank you for being here. I wish we could continue our conversation.

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