How Gas Prices Are Weighing on Biden's Climate Agenda
The Journal.
The Wall Street Journal
4.2 • 5.8K Ratings
🗓️ 1 December 2021
⏱️ 17 minutes
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| 0:00.0 | Over the last few months, gas prices have been rising. |
| 0:09.0 | A gallon of gas averaging $3.40 up from $2.12 last year. |
| 0:16.0 | Here in the state of Florida, we are seeing the highest gas prices of the year. |
| 0:20.0 | According to local media reports, a gas station along an isolated highway in California was |
| 0:24.0 | charging $7.59 a gallon for regular and almost $8.5 for premium. |
| 0:31.0 | Those higher prices are putting pressure on consumers and have become a major concern for President Joe Biden. |
| 0:39.0 | Many of his most senior advisors at the White House are concerned that high-gas-linked prices could be politically deadly for the President. |
| 0:50.0 | Voters do not like high-gas-linked prices. And all over the place, people are cranky because inflation is affecting their lives in a real way. |
| 1:00.0 | That's our colleague Tim Puko, who covers energy policy. |
| 1:03.0 | We've heard from a lot of people both inside the administration and partners that those people talk to, that they are scrambling inside the White House. |
| 1:12.0 | They have been for weeks, almost several months now, to figure out the gasoline price issue. |
| 1:18.0 | Everything is at stake for Joe Biden. |
| 1:22.0 | But the challenge is that to lower gas prices, Biden wants more crude oil on the market. |
| 1:29.0 | And that is at odds with his promise to slow climate change. |
| 1:34.0 | Biden has to manage an almost impossible clash of top priorities. |
| 1:40.0 | He's got impending doom from climate change and major promises that he's made to address the country's contribution to it. |
| 1:50.0 | While at the same time, the potential for a consumer and voter revolt. |
| 1:58.0 | Welcome to the journal, our show about money, business, and power. I'm Kate Limbaugh. It's Wednesday, December 1st. |
| 2:11.0 | Coming up on the show, why the Biden administration is scrambling to lower gas prices. |
| 2:31.0 | When Biden came into office, he made addressing climate change a top priority. On his first day, Biden canceled plans for the Keystone XL pipeline. |
| 2:41.0 | Then he tried to stop oil drilling on federal land. He's also championed electric vehicles and asked Congress for billions of dollars to support his climate agenda. |
| 2:52.0 | At the most basic level, they have acknowledged that society has to cut its consumption of fossil fuels to really make a dent in the amount of greenhouse gases that it's producing. |
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