Posted by on November 23, 2021 6:01 pm
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Granholm faced with questions over Biden’s gas price strategy

White House press secretary Jen Psaki, left, listens as Energy Secretary Jennifer Granholm speaks during a press briefing at the White House, Tuesday, Nov. 23, 2021, in Washington. (AP Photo/Evan Vucci) Evan Vucci/AP

Granholm faced with questions over Biden’s gas price strategy

Katherine Doyle November 23, 05:09 PMNovember 23, 05:12 PM iFrame Object

Energy Secretary Jennifer Granholm called it a “fact” that gas prices are “too high,” saying the public is experiencing a “short-term pinch” amid the transition to green energy. She called the administration’s efforts “a bridge to a longer-term issue.”

But questions about the administration’s response to surging gas prices, including a plan to tap the country’s Strategic Petroleum Reserve to release 50 million barrels of oil, about three days worth of supply, prompted vague answers.

Asked how many barrels of oil the United States consumes per day, Granholm declined to answer.

“I don’t have that number in front of me,” she told reporters. “Sorry.”

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“We’re not saying that we’re going to be supplying all oil for the country. We’re just kind of trying to do what we can temporarily,” Granholm said, calling it “the largest effort ever.”

Gas prices have surged in the U.S. and abroad, with President Joe Biden noting in earlier remarks it has reached $7 a gallon in France and $5.50 a gallon in Japan.

The SPR release is just one of several measures the Biden administration is wielding.

In a letter last week, Biden called on the Federal Trade Commission to “immediately” investigate whether oil and gas companies were illegally keeping prices high, citing “mounting evidence of anti-consumer behavior.”

Biden reiterated his claim in remarks Tuesday, arguing consumer prices are out of sync with the broader market.

“If the gap between wholesale and retail gas prices was in line with past averages, Americans would be paying at least 25 cents less per gallon right now,” Biden said. “Instead, companies are pocketing the difference as profit. That’s unacceptable.”

The White House declined to name a target price per gallon.

“We just want to continue to lower it, and we’ll look at a range of tools to do that,” said press secretary Jen Psaki.

According to the Energy Information Agency, prices projected for December are expected to fall to $3.19 per gallon before dropping again in January.

“We are not saying that there is going to be some dramatic difference,” Granholm said.

The plan is to release the oil “thoughtfully” over “the next bit of time,” she added.

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Outside the White House, Granholm argued the record cost of gas was not the administration’s fault.

“The president’s policies have nothing to do with the gas prices that you see today,” she told reporters after the briefing.

© 2021 Washington Examiner

Originally appeared at Washington Examiner

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