{"id":1283765,"date":"2022-02-09T00:23:34","date_gmt":"2022-02-09T05:23:34","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1283765"},"modified":"2022-02-09T00:23:50","modified_gmt":"2022-02-09T05:23:50","slug":"w-h-economic-adviser-bernstein-increasing-u-s-oil-production-isnt-part-of-bidens-gas-price-plan-but-well-get-other-countries-to-produce","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/w-h-economic-adviser-bernstein-increasing-u-s-oil-production-isnt-part-of-bidens-gas-price-plan-but-well-get-other-countries-to-produce\/","title":{"rendered":"W.H. Economic Adviser Bernstein: Increasing U.S. Oil Production Isn&#039;t Part of Biden&#039;s Gas Price Plan, But We&#039;ll Get Other Countries to Produce"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">44<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fw-h-economic-adviser-bernstein-increasing-u-s-oil-production-isnt-part-of-bidens-gas-price-plan-but-well-get-other-countries-to-produce%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1283765&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/02\/Gas-640x335-1.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>On Tuesday\u2019s \u201cCNN Newsroom,\u201d White House Council of Economic Advisers member Jared Bernstein stated that President Joe Biden\u2019s plan to control gas prices is engaging \u201cin diplomatic measures\u201d to get oil-producing companies to follow their commitments, releasing oil reserves as needed, and using regulation to ensure consumers aren\u2019t abused and price decreases are passed along.<\/p>\n<p>Co-host Victor Blackwell asked, \u201cA&nbsp;gallon of regular now up to $3.46 on average, a new seven-year high, up more \u2014 it\u2019s up a dollar, almost, from a year ago. The president ordered release of 50 million barrels from the reserve. That was back in November, I believe it was, hit the market in December. OPEC is not ramping up increases to the desires of the U.S. What is the plan to control gas prices? This is something that\u2019s hitting people every single day.\u201d<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Bernstein responded, \u201cA three-part plan coming from President Biden, who, first of all, starts out by being very clear about precisely the stressors you just mentioned. Anyone \u2014 and that\u2019s most of us \u2014 who\u2019ve had to fill up their tank understands what you\u2019re talking about. Number one, we are engaging internationally, both with oil-producing and oil-consuming countries. In terms of oil-producing countries, we want them to live up to their supply commitments, and we\u2019re engaged in diplomatic measures to make that happen.\u201d<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>He added, \u201c[O]il-consuming countries have strategic reserves, and the last time we released 50 million barrels, many of which are still in train, by the way, the price of gasoline \u2014 it wasn\u2019t just the strategic release, but it helped, the price of gasoline actually fell by ten cents a gallon.\u201d And that another release \u201cis certainly an option that can be put on the table as needed.\u201d<\/p>\n<p>Bernstein concluded, \u201cFinally, we\u2019ve got to protect consumers from any abuse and the president is making sure that every legal and regulatory authority we have is going to be tapped to make sure that any price gains are being \u2014 any price decreases are being passed along to consumers. We\u2019re seeing very high profitability in these oil companies, lots of stock share buybacks. This president wants to make sure that in a period of such strong demand, that some of those benefits are being passed along to consumers, and he will look at the regulatory authorities to make sure that happens.\u201d<\/p>\n<p><em>Follow Ian&nbsp;Hanchett on Twitter&nbsp;<a class=\"x5l\" href=\"https:\/\/twitter.com\/IanHanchett\" target=\"_blank\" rel=\"noopener external\">@IanHanchett<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Tuesday\u2019s \u201cCNN Newsroom,\u201d White House Council of Economic Advisers member Jared Bernstein stated that President Joe Biden\u2019s plan to control gas prices is engaging \u201cin diplomatic measures\u201d to get &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1283765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1283765","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1283765"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1283765\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1283765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1283765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1283765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}