The President Joe Biden, who was being compared with Anchorman’s Ron Burgundy (known for using the teleprompter verbatim) when he stated ‘end quote’ during a Tuesday speech.
Biden gave remarks before departing for Thanksgiving vacation, where he sought to reassure Americans about rising gas prices, supply chain issues, and the availability of holiday presents.
“And by the way you might have heard Walmart CEO yesterday speak about the actions we took. He stated that “The combination between private enterprise and government has been very successful”,’ I quote.
“All the way down the supply chain, there’s innovation. Because of the actions that we’ve taken, things have started to change,” Biden continued.
While Biden has used similar language in the past to indicate that he’s quoting someone else – especially after a plagiarism speech scandal knocked him out of the 1988 presidential race – The right-wing Daily Caller, Politico and other outlets compared the president to Burgundy, who famously uttered the near-career-ending phrase, ‘go f**k yourself, San Diego,’ when it was entered in the prompter.
When he spoke Tuesday, President Joe Biden was being likened to Anchorman’s Ron Burgundy who is known for his ability to read the teleprompter verbatim.
Will Ferrell’s Ron Burgundy (left) was known for reading the teleprompter verbatim and famously uttered the near-career-ending phrase, ‘go f**k yourself, San Diego,’ when it was entered in the prompter
Biden once again sought to speak to reassure Americans who are focused on inflation or worried about the state of the economy – referencing mothers and fathers who are ‘asking will there be enough food we can afford to buy for the holidays. Is it possible to buy Christmas gifts for our children on the due date? If so, how much will that cost us?
He made sure to show he is in tune to concerns about gas prices – including on the West Coast where they face high taxes.
He stated, “Right now I will do whatever it takes to lower the price at the pump,” referring to a plan to remove 50 million gallons of strategic oil reserve.
He said, “Families can relax – supermarkets are well-stocked in turkey and all other Thanksgiving necessities,”
He spoke also about supply chain issues and mentioned meetings with Walmart Target Home Depot and Target.
According to him, there was a 33% drop in time that container ships were docked and major retailers have ‘confirmed their stock levels in store this holiday season. This was good news for parents concerned about availability of “everything” from ice skates to bikes.
Biden spoke for more than 11 minutes – but once again did not take questions from White House reporters.
The White House took other steps to make reporters comfortable – piping in jazz standards by Dexter Gordon and Dave Brubeck to an auditorium on the White House grounds while they awaited his remarks.
On stage, a changeable set featured rotating images showing electric cars including the Chevy Volt.
Biden refused to answer questions after the event
He assured Americans that they would find Thanksgiving foods on their shelves and that the supply chain problem was improving.
Reporters shouted their questions at him after he had finished his remarks.
Steve Portnoy from CBS radio is the White House Correspondent’s Association Chair. Sir, when will you respond to our questions?
Biden hosted a 3-hour summit digital with China’s president last week.
Biden, however, walked off the set following his remarks to videographers as well as reporters. Jen Psaki (his press secretary) answered questions from reporters and videographers later in the Brady briefing area, along with Jennifer Granholm, Energy Secretary.
Biden announced that the U.S. Strategic Petroleum Reserve had released 50 million barrels of crude oil. This is despite Americans paying higher prices and Republicans calling the move a ‘bandaid.
‘The bottom line – today we’re launching a major effort to moderate the price of oil,’ Biden said from the White House. God willing, it is a global effort to reach each corner station.
He said that you should expect to see gas prices drop wherever you fill up. “And we’ll reduce our dependence on oil in the long-term as we switch to cleaner energy. Right now, however, I will take all necessary steps to decrease the price at the pump.
On Tuesday, gas prices in the United States averaged $3.40 per gallon. Biden listed times when he was vice president when the prices were higher – like in 2012 when it was at $3.90 per gallon and in 2014 when it was at $3.69.
He pointed out that many prices had risen to $3.00 by the time Donald Trump took office in 2019.
‘The fact is we always get through those spikes, but we’re going to get through this one as well – and hopefully faster,’ he said. “But it doesn’t mean that we shouldn’t wait and see if prices drop by themselves. We are taking steps instead.
Republican legislators argue that the measure will only be a temporary solution and won’t help lower prices over the long-term. They are instead urging President Obama to increase U.S. natural resource production.
His actions on the Strategic Petroleum Reserve are meant to lower soaring prices Americans are paying at the pumps
Biden will work with India and South Korea as well as China, Japan, to draw on their resources.
Although it’s a bold move and hasn’t been made since after Hurricane Katrina left, experts think that it’s a quick fix to rising costs. Republicans claim Biden is trying desperately to resolve an emergency he has caused.
The Energy and Natural Resources Committee chairman, Democratic Senator Joe Manchin, condemned the decision as a “Band-Aid” for rising gasoline prices, but did not address the nation’s self-inflicted wound caused by a shortsighted energy policy.
Biden will be taking oil from this reserve which contains 604.5 million barrels total across four locations in Louisiana and Texas. Gas prices are at an all-time high of seven years, and inflation is hitting historical records. America faces a winter heating emergency.
After the markets fell short of expectations, oil prices rose to $81 per barrel Tuesday morning. Americans won’t likely see any price changes at the pumps for at least two more weeks.
Presidents often tap into oil reserves to meet the needs of an emergency, or to prevent natural disasters from disrupting supply chains. But they also use them occasionally to control prices.
Last time oil was taken from the U.S., it was after oil prices soared following Hurricane Katrina. George Bush was the president at that time and ordered 30,000,000 barrels to be released.
AAA reports that the gasoline average has reached a record $3.409/gallon. This is a 7-year-high. California residents reported that they pay up to $4.84 per gallon.
Consumer Price Index rose by 6.2 percent over the previous year and rose by 0.9 percent in October, threatening public confidence in President Obama.
According to the Energy Department, the average time it takes for oil to reach the market after a president has announced its release is 13 days.
Although experts predict that prices will begin to drop in two weeks, they warn it won’t be a permanent solution as it does not solve the supply-demand problems created by the pandemic.
Biden will announce officially the decision to withdraw reserve oil. This announcement is part of a speech Biden gives Tuesday afternoon that aims at fixing the economy as well as lowering the prices. On Tuesday night, the first lady and president will travel to Nantucket, Massachusetts, where they will spend Thanksgiving.
According to the White House, the President Biden will authorize the withdrawal of 50 million barrels oil from the Strategic Petroleum Reserve. This is in an attempt to decrease the soaring price of gasoline.
AAA reports that the gasoline average has reached a record $3.409/gallon. This is a 7-year high. California residents reported that they pay up to $4.84 per gallon.
AAA reports that the West Coast states have the highest gas prices and those in North East are the lowest. The lowest prices are found in central states such as Florida, Louisiana, Mississippi and Texas where they range between $2.97 and $3.15.
In a Friday morning statement, the White House stated that American consumers feel the effects of higher gas prices and their heating bills.
“That is why President Biden uses every tool at his disposal to reduce prices and solve the shortage of supply.
The President today announced that the Department of Energy would make 50 million barrels of oil available from its Strategic Petroleum Reserve. This will lower the prices of crude oil for Americans, and help to address the shortage of supply.
The White House stated that 18 million barrels of oil will be released from sales in an expedited release and 32 million are being made available as an exchange for a later date.
Biden already faces a lot criticism for revoking a permit that was required to suspend construction on the Keystone XL Pipeline. The Michigan Five Pipeline has been threatened by his administration.
Instantly, Republicans weighed in on tapping the reserve’s announcement and claimed that this should only be done during wartime.
Trump, the former President of the United States called it an “attack” on oil reserves.
“For many decades, our country’s strategic oil reserves were very low. They had been so depleted that nobody wanted to fill them. Trump released Tuesday’s statement in which he lauded his administration.
He wrote that the reserves were meant to be used only for emergencies such as war and not other purposes. “Now, I believe Joe Biden will announce an attack on newly brimming Strategic Oil Reserves in order to artificially lower the record-setting high prices for oil.
OPEC has made us energy-independent one year ago. Now gasoline prices are $7 in some parts of California. Prices are going up throughout the country and they have taken oil from our Strategic Reserves. This is a way for a country to be run?
Trump claims that he contributed to increasing the reserves during his presidency are not true.
According to the U.S. Energy Information Administration, the national Strategic Petroleum Reserve stockpile went from 695 million barrels in January 2017 to 638 million in January 2021 – the same timeline Trump entered and left office.
Gas prices are surging nationwide – reaching some of the highest levels in California. An example of a Chevron station shows one gallon of gasoline at $5.09 in Visalia (left), and at $3.33 per gallon in Miami (right) on November 22 by SevenEleven.
Tweeted Senator Cindy Hyde Smith of Mississippi:[Biden] tapping the Strategic Petroleum Reserve (which is meant for emergencies) is a short-sighted & inadequate action to address Biden-caused record spikes at gas pumps.’
“To really help our nation the @WhiteHouse must reverse the policies which put our energy security at danger,” she said.
This stance was shared by Senator John Boozman of Arkansas and Senator Bill Cassidy from Louisiana.
Boozman’s Tuesday tweet stated that instead of asking OPEC for more production or tap into strategic petroleum reserves, we should increase our domestic energy production. The American people are spending up to 30% more on heating and gas this winter. Too many people will experience a chillier Thanksgiving.
Cassidy said: “The best way lower gas prices is not to constantly invest in the U.S. Energy industry so that we don’t have to use energy from other nations when there is a lack of supply.” Americans require long-term solutions for skyrocketing gas costs, and not just a temporary fix.
Tweet by Senator Lindsey Graham: ‘The reality of a Biden presidency, and a Democrat controlled Congress is destroying the Democratic brand.
“When someone hears Democrat, they think high gas prices and empty shelves. They also think about broken borders and heartbreak in Afghanistan.,” the South Carolina Republican said.
An alternative strategy was proposed by 33 House Republicans to increase the nation’s oil production, rather than tapping emergency reserves.
“There’s no reason for us to use the safety net of our country to bail out President Biden’s failing policies and poor planning,” reads the letter. It is in our best interests to restart oil and natural gas production on Federal lands. This would translate to an increase of 20% in our national oil production.
They explained that if we took out reserves of the SPR currently valued at $29/per bar and had to buy new ones at over $80/per bar (and growing), it would create another economic disaster for taxpayers.
Further, the letter stated that higher gas prices are detrimental to Americans. American workers will be more productive if domestic oil is produced. This would allow them to become energy independent from Russia and other Middle East countries. It also makes it easier to visit the pumps at a cheaper price.
“Returning from withdrawals to the SPR only postspones the reality and creates bigger economic concerns in the future. Future withdrawals from SPR might be necessary at a time of severe winter storms, hurricanes, and uncertain geopolitical environments.
They pleaded that the SPR be fully stocked so it can protect Americans as intended.
DailyMail.com spokesperson for GOP Representative Bob Gibbs said that the President’s decision of tapping into strategic oil reserves is a temporary solution to a wound caused by anti-energy policy, which has been killing domestic energy production.
Their continued statement stated that ‘Long term price stability can only been guaranteed by a stable, affordable domestic energy supply.’ “It is shameful that the Biden Administration has decimated thousands of American energy jobs, yet it goes hand in hand to nations with adversaries, asking them to boost production.”
Asking for “Pretty” is not responsible energy policy. If President Biden had not allied himself to socialist anti-energy activists, we wouldn’t need to tap our emergency resources or ask for OPEC.
Georgia Representative Buddy Carter posted Monday that Biden was applying a bandage to the energy crisis. We need policy changes. Not a few additional barrels of crude oil.
Rystad, an independent business intelligence and energy research company, called the move anti-OPEC+.
Louise Dickson (Senior Oil Markets Analyst) stated, “Today marks the official emergence an ‘antiOPEC+, a collection of top oil-consuming country that are taking control of the supply-side dynamic in the unconventional, unprecedented release of strategic oil reserves to create artificial looseness on the oil market, and deliver a positive blow to oil prices.”
The orchestrated supply-side through SPRs represents a last ditch effort by the US. [in]Dickson said that the ongoing request since August was to influence OPEC+ supply. “The support for supply is designed to reduce oil prices and maintain pandemic GDP recovery, particularly in the context of an inflationary macro-environment.”
The White House has not provided a schedule chartered for barrel release. However, some barrels may be available on the market in December. The futures curve has already reflected a large portion of the negative price effect since China declared it was willing to cooperate in the wake of the Xi Biden summit.
Former President Donald Trump called the measure an ‘attack’ on the oil reserve and claimed that he helped grow the Strategic Petroleum Reserve when he was president – despite the crude oil amount decreasing from January 2017 to January 2021
Inflation is at its highest in 30 years – one of the factors leading to a massive decrease in approval for Joe Biden
Democrats on the other side said Tuesday that they had received a response to their request for Biden tap the reserve.
Chuck Schumer, Senate Majority Leader, called it “good news to families.”
The New York Democrat said that he called for relief at the pumps and to signal to OPEC that they cannot manipulate supplies to raise gas prices. ‘Of course—the only long term solution is to keep working to eliminate fossil fuel dependence and create a robust green energy economy.’
December 2nd is the scheduled date for the Organization of Petroleum Exporting Countries to meet with its allies. They plan to discuss plans to raise oil production just by 400,000 barrels per hour in January.
Officials at OPEC+ said that they would react if the largest oil buyers in the world tapped into their oil reserves. This could lead to a struggle for control over the global oil market.
According to Al Jazeera, OPEC+ officials indicated that they might reconsider their plans for adding production to the meeting next week.
This standoff shows a fraught relationship of Washington and Riyadh. Saudi Arabia is a long-standing trade ally.
Biden pointed out Russia and OPEC+ for rising prices and called for the Federal Trade Commission’s investigation of price-gouging in an effort to uncover the cause for this inflation.
He stated that if you compare oil prices to gas prices, it is a direct result of Russia’s refusal to import more oil.
OPEC+ cut its output by over 10 million barrels per day in April 2020. The group has about 3.8 million bpd in supply cuts that it has not yet returned to the market.
Another reason why prices are rising is the US’s decision to reduce oil production by 3 million barrels during the 2020 summer, when the pandemic weakened demand.
Biden asks the world to continue to produce more oil. Biden has made a series of moves to stop oil production. This includes halting new oil leases and revoking Keystone XL’s permit.