Biden chooses economist who criticized low gas prices.

Jared Bernstein’s Comments Could Jeopardize His Senate Confirmation

High gas prices have been a nightmare for President Joe Biden, but they are a dream come true for progressive economist Jared Bernstein, whom the president nominated for a top White House post. However, Bernstein’s past comments on gas prices could hurt his chances of being confirmed as chairman of the Council of Economic Advisers.

Bernstein’s Controversial Stance on Gas Prices

In 2015, when gas cost $2.09 per gallon, Bernstein lamented that gas prices were “too damn low.” He argued that “seriously under-priced” fuel costs had “scary” consequences for the environment because they stoked demand for fossil fuels. He even suggested a gas tax hike, despite acknowledging that low prices at the pump help working families.

Bernstein’s nomination comes at a time when many Americans are concerned about high energy costs. Recent polls show that only 36 percent of Americans give Biden a positive rating on the economy, with a significant contributor being the dramatic increase in gas prices, which rose from $2.42 per gallon when Biden took office to $3.61 last week.

The Senate Banking Committee’s Vote

The Senate Banking Committee will vote on Bernstein’s nomination on Thursday. However, Sen. Tim Scott (R., S.C.), the ranking member of the committee, and other Republicans oppose Bernstein due to his comments on fossil fuels and support for Biden policies that they say have contributed to inflation.

Bernstein’s fate could lie in the hands of moderate members of the committee, such as Sens. Jon Tester (D., Mont.) and Kyrsten Sinema (I., Ariz.), who have voted against other progressive Biden nominees. They blocked Saule Omarova, Biden’s nominee for comptroller of the currency, over her calls to regulate the banking industry. Omarova said she wanted to “starve” oil companies of funding to fight climate change.

Tester and Sinema have not yet announced how they will vote on Bernstein’s nomination.

Conclusion

Bernstein’s support for expensive gas seemingly puts him at odds with Biden, who has blamed oil companies, Russia, and even “MAGA Republicans” for higher fuel costs. Whether Bernstein will be confirmed as chairman of the Council of Economic Advisers remains to be seen, but his controversial stance on gas prices could jeopardize his chances.

• Bernstein’s comments on gas prices could hurt his chances of being confirmed as chairman of the Council of Economic Advisers.
• Recent polls show that only 36 percent of Americans give Biden a positive rating on the economy, with a significant contributor being the dramatic increase in gas prices.
• Sen. Tim Scott (R., S.C.) and other Republicans oppose Bernstein due to his comments on fossil fuels and support for Biden policies that they say have contributed to inflation.
• Sens. Jon Tester (D., Mont.) and Kyrsten Sinema (I., Ariz.) have not yet announced how they will vote on Bernstein’s nomination.

It remains to be seen whether Bernstein will be confirmed as chairman of the Council of Economic Advisers, but his controversial stance on gas prices could jeopardize his chances.

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