‘What The President Has Done Has Worked’: Jean-Pierre Claims Biden Gas Price Policies Will Lessen Impact Of Latest OPEC Move
According to White House Press Secretary Karine Jean-Pierre, President Joe Biden‘s policies will help lessen the effects of OPEC’s surprise oil production cuts on gas prices.
OPEC recently announced that they would decrease output by 1.15 million barrels per day, which has already caused Brent crude, the benchmark for fuel drilled in the Atlantic, to rise from $79 per barrel to $85 per barrel.
Analysts predict that the move could increase gas prices in the United States by an additional $0.30 per gallon. As of now, the national average gas price is $3.53 per gallon, according to AAA data.
During a press briefing on Tuesday, reporters asked Jean-Pierre about the White House’s response to OPEC’s actions. Jean-Pierre responded by saying the administration would do “everything that we can to make sure that we lower costs and meet the American people where they are.” She stated that President Biden’s policies have previously mitigated increases in fuel prices.
According to Jean-Pierre, the Inflation Reduction Act, which allocates $369 billion for various renewable energy initiatives, has helped to reduce fuel expenses by increasing “energy security.” She also claimed that the Bipartisan Infrastructure Law and the CHIPS and Science Act, two of the other landmark legislative actions from the Biden administration, have been “critical and important” in decreasing pump prices.
Biden has received criticism for approving the release of 180 million barrels from the Strategic Petroleum Reserve, a stock of emergency crude oil created to manage supply disruptions in energy markets. This has depleted the reservoir even though the cost to refill it is currently high. He also requested that Saudi Arabia delay oil production cuts until after the midterm elections last year.
Despite criticisms, Jean-Pierre stated that President Biden’s actions have worked, and that his administration will continue to make efforts to mitigate the effects of OPEC’s production cuts on gas prices.
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