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On Thursday, a CNN guest argued that the solution to soaring gasoline prices was to “just use less gasoline and less diesel.”
The CNN panel was discussing of President Biden decision to draw urgently federal oil reserves in an attempt to reduce the cost of gasoline. CNN host Ana Cabrera defended the president against “false” accusations from “the opposing side”, saying his policies were hampering national oil production.
After citing a poll blaming oil company greed as the real problem, Cabrera asked his guest if there was anything we could do to invest in more oil production.
Daniel Raimi, a member of the Washington DC-based energy research group Resources for the Future, told the CNN host that the problem was not our supply, but consumer demand.
“Longer term, the really smart strategy for the Biden administration or any future administration would be to attack this problem, not from the supply side, but rather from the demand side,” Raimi said.
He said the Biden administration could do “very little” to reduce gas prices due to international events, such as Russia’s invasion of Ukraine, “on which the United States has no no control”. He later argued that the “key” to making consumers feel relief from high prices is to not use as much.
“And so the key to reducing our economic exposure, to high gasoline and diesel prices, is just to use less gasoline and diesel. That’s something that, of course, will take a long time to play out. But it’s a more effective and efficient way to reduce our exposure to that volatility,” Raimi told Cabrera.
The president’s allies in the media defended him, claiming that he is not responsible for the high gas costs.
Three weeks ago the Cabreras complained voters blamed Biden for high gasoline prices because of “misinformation”.
“Gasoline prices hit another record high today, $4.25 a gallon, according to AAA, and that’s a staggering 60-cent increase in just one week. And while there’s a lot of understandable anger and frustration over the pain at the pump, there’s also a lot of misinformation circulating about who or what is responsible,” Cabrera said.
A new fox news poll showed that a majority of voters think the president is behind inflation and rising gasoline prices. The poll found that 68% of respondents believe the Biden administration is responsible, up five percentage points from February.
The White House announced Thursday that they would draw on the strategic petroleum reserve of the United States which they described as a “historic” action to relieve pain at the pump. During his announcement, President Biden blamed Russian President Vladimir Putin and oil companies for the price spike.
Another guest, CNN economics reporter Matt Egan, touted Biden’s decision to open up emergency reserves as making “a lot of sense” since it was specifically about natural disasters and world wars, such than Russian invasion of Ukrainehe explained.