On Tuesday’s “CNN Newsroom,” White House Council of Economic Advisers member Jared Bernstein stated that President Joe Biden’s plan to control gas prices is engaging “in diplomatic measures” to get oil-producing companies to follow their commitments, releasing oil reserves as needed, and using regulation to ensure consumers aren’t abused and price decreases are passed along.
Co-host Victor Blackwell asked, “A gallon of regular now up to $3.46 on average, a new seven-year high, up more — it’s 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’s hitting people every single day.”
Bernstein responded, “A…
