White House Press Secretary Jen Psaki blames Russian President Vladimir Putin for the rising price of gas at the pump. This is an interesting take considering how Psaki and her ilk would say that Presidents (meaning, Joe Biden) do not actually control the price of gas. They say that gas prices are determined on a global level and that one person cannot control it. That line of reasoning has gone out of the window ever since the Ukraine conflict ramped into overdrive. While the Secretary is partially correct, her statements push all of the blame on Putin and that is not correct.
The price of gas boils down to production or lack thereof. If, for instance, the United States refused to produce enough oil/gas to keep up with demand (Keystone XL) then that would cause prices at the pump to rise. This is the simple law of supply and demand. A lack of supply combined with high demand equals higher prices. The United States recently placed an embargo on Russian oil/gas imports. Psaki herself said that the Russian supply accounted for 10% of the US total. Combine a lack of imports with a lack of proper production, this will further decrease supply. These are not theories. These are observable facts.
Why high gas prices are largely out of Joe Biden’s control — Quartz
Biden bans Russia oil imports to U.S., warns U.S. gasoline prices will rise further | Reuters
Why the U.S. isn’t in desperate need of the Keystone XL pipeline | CBC News
Factbox: What are Europe’s options in case of Russian gas disruption? | Reuters
Biden announces U.S. to ban Russian oil imports
Biden Administration Halts New Drilling in Legal Fight Over Climate Costs – The New York Times