CNN expert on gas prices: ‘Really smart strategy’ for Biden would be to ‘simply use less gasoline and diesel’
Daniel Raimi, a fellow at Washington D.C.-based energy research group "Resources for the Future" told the CNN host that the problem wasn't our supply, but consumer demand.
Thursday, a guest on CNN argued the solution to skyrocketing gas prices was to "simply use less gasoline and diesel."
The CNN panel was discussing President Biden’s decision to tap into emergency federal oil reserves in an attempt to reduce the cost of gasoline. CNN host Ana Cabrera defended the president against "false" accusations from "the opposite party" saying his policies were hindering domestic oil production.
After she cited a poll blaming oil corporation’s greed as the real problem, Cabrera asked her guest if there was anything we could do to invest in more oil production.
Daniel Raimi, a fellow at Washington D.C.-based energy research group "Resources for the Future" told the CNN host that the problem wasn't our supply, but consumer demand.
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A Fox News poll showed rising gas prices are a problem for a majority of families. (Getty Images)
"In the longer term, the really smart strategy for the Biden administration or any future administration would be to attack this problem, not from the supply side, but rather from the demand side," Raimi said.
He said there was "very little" the Biden administration could do to reduce gas prices because of international events, like Russia invading Ukraine, "that the U.S. has no control over." Later on, he argued the "key" for consumers to feel relief from the high prices is to not use as much.
"And so the key to reducing our economic exposure, to high gasoline and diesel prices, is to simply use less gasoline and diesel. That's something that of course will take a long time to play out. But it's a more effective and efficient way to reduce our exposure to this volatility," Raimi told Cabrera.
The president's allies in the media defended him, claiming he is not responsible for the high costs of gas.
Three weeks ago, the Cabrera complained voters were blaming Biden for high gas prices because of "misinformation."
"Gas prices have hit a record-high again today, $4.25 a gallon, according to AAA, and that's up a staggering 60 cents in just one week. And while there is a lot of understandable anger and frustration over the pain at the pump, there’s also a lot of misinformation going around about who or what is responsible," Cabrera said.
A Fox News poll in March found a majority of Americans say the Biden administration has made the economy worse. (Fox News)
A new Fox news poll showed a majority of voters think the president is causing inflation and gas prices to rise. The poll found 68% of respondents think the Biden administration is responsible, up five percentage points from February.
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WASHINGTON, DC - JANUARY 19: U.S. President Joe Biden answers questions during a news conference in the East Room of the White House on January 19, 2022 in Washington, DC. (Chip Somodevilla/Getty Images)
The White House announced on Thursday, they would tap into the U.S. Strategic Petroleum Reserve which they described as a "historic" action to ease the pain at the pump. During in his announcement, President Biden blamed Russian President Vladimir Putin and oil companies for the surging prices.
Fellow guest, CNN business reporter Matt Egan touted Biden’s decision to open emergency reserves as making a "lot of sense" since it was specifically for natural disasters and global wars, such as Russia invasion into Ukraine, he explained.