Natalia Chi
President Biden adviser reveals ideas to lower gas prices IS ARE AMERICANS GOING TO BE ASKED TO SACRIFICE AND PAY $5 AT THE PUMP, YOU KNOW.. AND ALL OF THE THINGS THAT GO WITH THAT. WE HAVE REGARD INFLATION RIGHT NOW AND WE HAVE A STOCK MARKET THAT IS AT LEVELS THAT WE HAVEN’T SEEN SINCE THE 1970s.
BUT WE WANT TO FIND WAYS TO DO THAT THAT DO NOT GIVE A FREE PASS TO PUTIN AND THE UNTHINKABLE AGGRESSION AND TORTURE AND MURDER THAT THEY HAVE COMMITTED.
YOU’VE SEEN THE PROPOSAL THAT CAME FROM OUR SECRETARY OF TREASURY TO CAP THE PRICE THAT PEOPLE WOULD BUY RUSSIAN OIL AT. THE IDEA THERE IS DON’T REDUCE THE SUPPLY, BUT REDUCE THE PROFITS COMING IN TO HIM.
SECONDLY, YOU KNOW, GIVE A HOLIDAY FOR THE GAS TAX AT THE FEDERAL AND STATE LEVEL AND LOWER GAS PRICES BY 50 CENTS. WE’VE JUST SEEN GAS PRICES COME
DOWN ABOUT 17 CENTS. YOU ADD ANOTHER 50 CENTS, YOU’RE STARTING TO MAKE PROGRESS FREE.
WE’VE BEEN PUSHING REFINERIES TO DO EVERYTHING THAT THEY CAN TO BRING BACK REFINING CAPACITY.
THEY CLOSED DOWN A MILLION BARREL AS DAY PRIOR TO — OVER THE LAST TWO YEARS.
800,000 IN 2020. WE’RE WORKING TO DO EVERYTHING —
Martha: LET’S TALK ABOUT THAT. THAT IS THE PROBLEM. THE OIL INDUSTRY — YOU HAVE TO LET ME GET A QUESTION IN HERE. THE OIL INDUSTRY HAS MADE IT CLEAR THAT THEY FEEL LIKE THE ADMINISTRATION HAS BASICALLY CONDEMNED THEIR INDUSTRY AND DOESN’T WANT THEM TO GROW, WANTS THEM TO SHRINK OVER TIME.
I CAN PUT IT A LITANY OF SITE BOUNDS. NOW THE ADMINISTRATION SAYS THEY HAVE NEW LEASE AS AVAILABLE TO DRILL ON FEDERAL LAND, WHICH IS SOMETHING THAT THE PRESIDENT RAN AGAINST.
HE SAID HE WOULDN’T DO THAT. HE STOPPED THEM. I KNOW THERE’S MIXED REACTION TO THIS DECISION ABOUT WHETHER OR NOT IT’S BEING DONE IN A WAY THAT WILL MAKE A DIFFERENCE IN LOWERING GAS PRICES. BUT IS THAT AN ADMISSION THAT THAT WAS A MISTAKE BACK THEN?
NO, NOT AT ALL. THERE’S MANY THINGS THAT WE NEED TO DO THAT THIS PERIOD CHOSE
THAT WE NEED TO DO TO HAVE ENERGY INDEPENDENCE. I’M SORRY. ARE YOU NOT HEARING ME?
Martha: I’M NOT HEARING HIM. SORRY.
I’M UNABLE TO HEAR GENE SPERLING RIGHT NOW. WELL, I JUST WANTED TO SAY IF PEOPLE CAN HEAR ME STILL, WHAT I WANTED TO SAY IS ONE, ONE OF THE OTHER THINGS THE PRESIDENT DID IS PUT 180 MILLION MORE BARRELS OF OIL SUPPLY ON THE MARKET.
THAT IS A MAJOR THING WE’VE DONE AND ASK OTHER COUNTRIES TO PUT ANOTHER 60 MILLION ON THEMSELVES.
IN TERMS OF THE OIL INDUSTRY, WE ARE NEXT YEAR PROJECTED TO BE AT RECORD PRODUCTION. NATURAL GAS IS AT RECORD PRODUCTION. WE’VE ALWAYS THOUGHT — KNOWN THAT WAS PART OF THE MIX AND HAVING ENERGY INDEPENDENCE.
ALONG WITH THINGS LIKE ENCOURAGING MORE ELECTRIC CARS, ENCOURAGING MORE ENERGY EFFICIENCY.
WE ALSO BELIEVE THAT YOU COULD DO MORE AT THIS TIME TO GIVE CONSUMERS RELIEF ACROSS THE BOARD.
THAT DOES REQUIRE CONGRESSIONAL ACTION. WE WOULD LOVE TO SEE BIPARTISAN EFFORTS TO BRING DOWN DRUG PRICES AND CHILD CARE PRICES. OTHER THINGS THAT WOULD TAKE PRESSURE OFF OF THE FAMILY.
Martha: I COULDN’T HEAR YOU FOR ABOUT THE LAST 45 SECONDS. SO I WANT TO LET PEOPLE KNOW THAT AT HOME. BEFORE I LET YOU GO, I WANT TO ASK YOU, WHEN WE LOOK AT THE POLLS, PEOPLE DON’T THINK IT’S WORKING FOR THEM.
THEY’RE STRAPPED. PAYING $5 A GALLON FOR GAS AND LOST THE S&P PROBABLY 20%. TECH STOCKS 30% OVER THE COURSE OF THE PRESIDENCY SO FAR. THAT BEING SAID, I WANT TO ASK YOU A QUICK QUESTION ABOUT THE AIRLINES.
PETE BUTTIGIEG IS GETTING A LOT OF HEAT FROM PEOPLE IN HIS OWN PARTY, RO KHANNA, BERNIE SANDERS. HAVE YOU SPOKEN TO HIM ABOUT
THIS? HAS HE SPOKEN TO PETE BUTTIGIEG AND IS HE PRESSING FOR HIM FOR MORE ACTION DURING ALL OF THESE
AIRLINE DEBACLES? WE HAVE ENORMOUS CONFIDENCE IN SECRETARY BUTTIGIEG. HE’S A STAR IN THIS CABINET.
Martha: WHAT SHE THAT BASED ON, SIR? WHAT DO YOU BASE THAT ON? WHAT ACCOMPLISHMENTS — WE HAVE A INFRASTRUCTURE BILL GOING OUT IN WHICH HE’S DONE AN ENORMOUS AMOUNT.
A BIPARTISAN INFRASTRUCTURE BILL IN WHICH HE’S DONE AN ENORMOUS AMOUNT TO GET FUNDS OUT. THEY GOT FUNDS OUT TO AVIATION MANUFACTURING AND STRENGTHENING SUPPLY CHAINS ACROSS THE BOARD.
I’M NOT GOING TO FRONT RUN SECRETARY BUTTIGIEG. HE’S GOING TO BE SPEAKING AND ADDRESSING THESE ISSUES.
I’LL LET HIM DO THAT FOR HIMSELF.
Martha: ALL RIGHT. JUST CURIOUS IN THE PRESIDENT HAD SPOKEN TO HIM AND IF HE’S
SATISFIED.
OBVIOUSLY ON THOSE OTHER FRONTS, THERE’S A LOT OF QUESTIONS ABOUT
HOW SUCCESSFUL THE INFRASTRUCTURE PLAN HAS BEEN. I KNOW INFLATION IS TAKING A HUGE BITE OUT OF WHAT PEOPLE CAN BUILD. THAT DOUBLES BACK ON THAT. GENE, THANK YOU. I APOLOGIZE FOR THE TECHNICAL…
