Biden Promotes Proterra Electric Buses and “Buy American” While Labor Secretary Admits Domestic Drilling “Hasn’t Been on the Table”

On 3/4/2022, President Biden delivered remarks promoting his “Buy American” agenda and Proterra electric buses while refusing to take questions on inflation or the energy crisis. Labor Secretary Marty Walsh admitted in a separate interview that increased domestic drilling “hasn’t been on the table to this point” and that he hadn’t been part of any conversations with oil producers. A Treasury official confirmed sanctions were deliberately designed to do “nothing to increase the price of energy immediately,” while Pelosi was calling for a ban on Russian oil.

Biden Ignores Questions, Promotes EV Company

Biden delivered prepared remarks about “Buy American” policies, highlighting companies like Rivian and Proterra. “By our younger companies like Rivian, building electric trucks, Proterra, building electric buses,” Biden said. He refused to take questions afterward on inflation or energy.

Biden framed the inflation fight as a false choice. “We have a choice. One way to fight inflation is to drive down wages and make Americans poor,” Biden said. “I think I have a better idea to fight inflation — lower cost, not your wages.”

He acknowledged the problem broadly: “So many families are still struggling though to make ends meet because of inflation. I understand — our top priority must be getting prices under control.”

Labor Secretary: Drilling “Hasn’t Been on the Table”

In a striking interview, Labor Secretary Walsh was asked directly whether more domestic drilling was being considered. The exchange was revealing.

“Will the president acknowledge that we’ve got a shortfall in domestic production so we should make it up? Will he drill?” a reporter asked.

“I can’t answer the question for the president, but I can tell you that we’re looking at all avenues on how we deal with energy,” Walsh said.

“Is that on the table? More domestic drilling. Is that on the table in the White House?” the reporter pressed.

“It hasn’t been to this point,” Walsh admitted. “And it’s certainly — looking at what’s happening in the situation in the world right now, that will have to be a conversation.”

“Do you think we should be drilling more of our own oil and gas?” the reporter asked.

“I’m not in a position to answer that question at this point,” Walsh said.

Oil CEOs: “Not a Single Dialogue”

The Devon Energy CEO delivered a public rebuke. “I’m a little mystified that there hasn’t been some dialogue,” the CEO told reporters. “If they were to reach out to them and maybe be a little bit more collaborative, it might provide some cover from investors who might be disappointed that they were boosting output.”

Walsh confirmed no outreach had occurred. “To this point, I’m not aware of any conversation, but I’m sure there are conversations going on. I have not been part of those,” he said. When asked if he needed to wait for presidential direction, Walsh said: “Certainly this is a very coordinated effort.”

Treasury: Sanctions Designed to Protect Russian Energy Flow

A Treasury official confirmed the sanctions were deliberately structured to avoid disrupting Russian energy exports. “What we decided to do with regard to energy is make sure that we do nothing to increase the price of energy immediately,” the official said. “We’ve created a general license saying that energy can be sold through pipelines, by boat, immediately.”

When pressed on whether a plan existed to impose energy sanctions if needed — as Speaker Pelosi was calling for — the official demurred. “The plan that we have now is to do everything we can to make sure the market remains well supplied,” the official said.

A reporter pressed: “Speaker Pelosi says ban the oil, ban Russian oil. I want to understand whether you’ve done the work at Treasury to execute that plan if it needs to be executed. Does that plan exist?”

The official did not confirm one existed.

Inflation “Here to Stay”

An analyst offered a blunt assessment when asked if inflation was “here to stay.” “We’ve seen the last couple of months inflation numbers going up, and the prediction is they’re going to go up again. So I think for the short term, we’re here to see it stay,” the analyst said.

Walsh acknowledged the situation was worsening. “As oil supply gets cut back from Russia, if that’s what ultimately happens, we’re going to see an increase in gas prices,” Walsh said. “There’s lots of conversations and lots of actions that will be taken over the next weeks and months.”

Key Takeaways

Labor Secretary Walsh admitted increased domestic drilling “hasn’t been on the table to this point” and he hadn’t been part of any conversations with oil companies.
Devon Energy’s CEO said he was “mystified” that the administration hadn’t reached out for dialogue on boosting production.
Treasury confirmed sanctions were designed to do “nothing to increase the price of energy immediately” — deliberately protecting Russian energy revenue.
Biden promoted Proterra electric buses and “Buy American” while refusing to take questions on inflation or the energy crisis.
Speaker Pelosi was calling for a Russian oil ban while Treasury could not confirm a plan existed to execute one.

Transcript Highlights

The following is transcribed from the video audio (unverified — AI-generated from audio).

Is more domestic drilling on the table in the White House? It hasn’t been to this point.
I’m a little mystified that there hasn’t been some dialogue. If they were to reach out and be a little more collaborative, it might provide some cover.
What we decided to do with regard to energy is make sure that we do nothing to increase the price of energy immediately.
I think I have a better idea to fight inflation. Lower cost, not your wages.
To this point, I’m not aware of any conversation with oil companies. I have not been part of those.
Speaker Pelosi says ban Russian oil. Does that plan exist at Treasury? The plan we have is to make sure the market remains well supplied.

Full transcript: 1212 words transcribed via Whisper AI.