On 8/3/2022, during the White House press briefing, President Joe Biden White House Press Secretary Karine Jean-Pierre bragged about gas prices, which still remain way up since President Joe Biden took office. Karine Jean-Pierre completely dodged on whether President Joe Biden feels like the OPEC snub was “an insult,” a reporter asked, “so on the OPEC announcement: Given what the President has invested, does he feel like the increase was an insult?”
Jean-Pierre: Look — and I said this earlier, and I’ll say this again: The fact of the matter is that oil and gas prices are coming down. They are coming down. And they have been coming down since the President announced his trip. The moment he announced his trip, we saw gas prices and oil prices coming down. And so that is also important to note .. And we’re going to continue to do the work on the domestic and international oil producers to increase the supply of oil. It doesn’t stop with the announcement today. It didn’t stop with the announcement in early June. We continue to do that work.
Reporter: Quick question again on oil. You know, 100,000 barrels a day — it’s enough to basically cover, I think, 86 seconds of global oil demand in a day. And it’s essentially a rounding error when analysts say that the Kingdom could increase production by at least five times as much. You know, is the White House happy with that amount? And again, does Biden feel like he got what he wanted out of the visit to Saudi Arabia?
Jean-Pierre: So, again, the way we look at this is that if you — I laid out the gas prices and how that’s gone down. We went from 120 — (looks to television screen) — Oh — Reporter: It’s gone now. Jean-Pierre: It’s gone now. Reporter: You just missed it.
Jean-Pierre: So this is the prices at the — at the pump: 86 cents. But if you look at the barrels of — the barrels .. Look, if you think about his trip, to your second question, to the Middle East, it was important to go … And so, look, when it comes to gas prices and oil production and meeting supply, we’re going to continue to work on that … So, that is — we see that as incredibly important as we’re doing work on the — for the President.
Reporter: OPEC+ is boosting oil production by a much slower pace in September than in previous months — at about 100,000 barrels a day. After President Biden’s visit to Saudi Arabia, was this the potentially substantial increase that the administration was looking for?
Jean-Pierre: So, I’ll say this: You know, the President has been very clear, Josh, that oil supply must meet oil demand. And the fact of the matter is — and I just laid this out in the top — which is, seven weeks ago, the price of barrel of oil was … So what we’re focused on is keeping those prices down. We wanted to see some increases in the production before we announced the trip. And we actually saw that in that first week of June when OPEC+ announced that it was going to increase their production by 50 percent in July and August. So we saw that happen.
But what we’re focused on is: The bottom line for us is that reducing the price of oil in the market is the most important thing. And that’s what we’re seeing, and that’s what we’re going to continue to work on.
Reporter: The Strategic Petroleum Reserve is at the lowest level in 37 years. The release of 1 million barrels a day ends in September. So what’s the plan then after that?
Jean-Pierre: Well, from my understanding, and I can get you more specifics, is that we are replenishing the Strategic Petroleum Reserve. I don’t have more to share on that. But I’m happy to get more information.
Is this fallacy? when oil prices up: Putin price hike, Biden takes credit when oil prices down while Putin is still in power. Biden Senior Advisor Falsely Claims Gas Prices Were Not Rising Before Putin.
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86 seconds OPEC snub “an insult” rounding error? Fallacy, Biden took credit with lower oil prices Putin hikes.