Gas prices have risen dramatically since 2008 due to the financial crisis. AAA reports that the national average gas price is over $4 per gallon. This is the highest gas price ever recorded. Biden cautioned that the “decision today is not without cost here at home.” Putin’s military buildup near Ukraine’s borders has caused “Putin’s war already causing pain to American families at the pump.”
The Biden administration announced this week that it would be releasing 60 million barrels of its joint-oil resources. Biden pointed out that the United States accounts for half of all this.
He stated that the administration is taking steps to ensure a reliable supply of global energy, and is using every tool available to protect American families.
Biden stated that it was not an excuse for excessive price increases, padding profits, or any other type of effort to exploit American consumers. “Russia’s aggression is costly to us all, and it’s no time for price gouging or profiting.”
He stated that the United States has reached near-record levels of oil and gas production, and was poised to surpass these records next. He stated that 90% of the country’s oil-and-gas production is on land that is not owned by the federal government.
He stated, “And the remaining 10% on federal land, oil industry have millions of acres, they have 9,000 permits to drill. They could be drilling right now. They have 9,000 permits to drill offshore, which were approved last week and last.
GOP members have criticized Biden and urged him to not lift the executive orders which canceled Keystone XL from Canada and frozen new oil-and-gas leases on federal lands.
Biden said that he had had numerous discussions with European allies over the past months about how they should wean themselves off Russian oil.
Biden admitted that clean energy investments will not reduce energy costs for American families. Biden said however that American families would be able to winterize and consume less energy if they were able to transform the economy to run on clean-energy vehicles with tax credits.
Biden stated that no one will need to worry about future gas prices if they do their best. “That will mean tyrants like Putin won’t be able to use fossil fuels as weapons against other nations, and it will make America a world leader–manufacturing and exporting clean energy technologies of the future to countries all around the world.”
Biden banned Russian oil imports Monday after Volodymyr Zeleskyy, the Ukrainian president, called for “boycotts”.
Officials from the Russian government told Fox News that Russia is the third-largest oil producer in the world, but that it would have minimal impact on U.S. oil imports when compared to its allies.
Biden also addressed the $1 billion in security assistance to Ukraine, and stated that “shipments of defense arms are arriving in Ukraine every day from the United States.”
However, the president maintained that Ukraine would not be a victory for Putin. He said that he could take a city but not be able to hold the country.
Biden stated that if the United States doesn’t react to Putin’s attack upon global stability, peace and security, it will cost freedom and the American people more tomorrow.
The United Nations report showed that 2 million Ukrainians fled Ukraine after Putin’s February 24 war. The majority of Ukrainian refugees fled to Poland or other countries.
Biden asked Congress to approve the $12 million Ukraine aid package he requested. Biden stated that the Ukrainian people would defend freedom, democracy and their lives.
Biden stated that the United States would continue to provide economic assistance, security assistance, and humanitarian assistance to Ukraine. He also said that they will continue to support Ukrainians against oppression, tyranny, and violent acts of subjugation.