U.S. Transportation Secretary Pete Buttigieg believes there are steps the government could take to provide “direct relief” to Americans that are “way more under” its control than oil markets.
During an appearance on CNBC on Tuesday, he was asked about rising gas prices and whether the administration would consider putting a freeze on the national gas tax.
“It continues to be important to keep options open,” Buttigieg responded. “As you know, the president’s taken a lot of steps to bring relief and to help stabilize oil prices, including that big release from the Strategic Petroleum Reserve.”
He continued to argue that the “long-term” solution” is “energy independence and a shift to renewable energy.”
“But let’s also remember that while oil prices and gas prices are famously something that is largely outside of the direct control of any political figure, there are a lot of things that we could be doing right now that would bring direct relief to the pocketbooks of American families that are greater than most any family’s gasoline bill,” he added.
Specifically, Buttigieg argued that the government could lower the cost of insulin and childcare as well as extend the child tax credit, which he argued would “outweigh” inflation and higher gas prices.
“So if we’re really talking about the bottom line, the balancing of the checkbook of an American family, there are lots of things that are way more under our control than the dynamics of global oil markets at a time when an oil-producing country is going to war,” he added.
Watch the video below:
.@PeteButtigieg says Biden admin focused on insulin & govt child-care, not gas prices: “Gas prices are famously something that is largely outside of the direct control of any political figure" pic.twitter.com/a1vVD4IsPG
— Tom Elliott (@tomselliott) March 15, 2022
According to AAA, the average national price for a gallon of gas has surged roughly 80 cents since February as Russia invaded Ukraine.
President Joe Biden was asked what he could do to address soaring prices last week and responded, “Can’t do much right now. Russia’s responsible.”
Conservatives are calling for the U.S. to ramp up domestic oil production to increase supply and help bring prices down. But, according to CNN, it could take at least six months for new oil drilling to make an impact.
And The Washington Post’s Glenn Kessler notes that the U.S. is no longer the largest oil-producing country. It is now behind Russia and Saudi Arabia, as investors are urging oil companies to limit production to boost profits.
However, Kessler points out that even if the U.S boosted production, it would “not really” influence oil prices because the U.S. is “just one player in a global oil market” and “much of what happens in the market is beyond the government’s control.”
