March 3, 2022: How gas prices could crush Biden and the Democrats
The Playbook Podcast
POLITICO
3.9 • 699 Ratings
🗓️ 3 March 2022
⏱️ 5 minutes
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| 0:00.0 | Presented by America's Plastic Makers. |
| 0:02.5 | Good morning, Playbookers, and Rookumonovalin, it's Thursday. |
| 0:06.3 | And today's show, President Joe Biden's conundrum when it comes to Russian oil. |
| 0:10.7 | It's your Politico Playbook Daily Briefing. |
| 0:18.6 | President Joe Biden's conservative critics, from Fox News to Capitol Hill, have slammed the |
| 0:24.0 | administration for exempting Russian oil from the raft of financial sanctions aimed at the Kremlin. |
| 0:29.5 | They've argued two main things. |
| 0:31.4 | Number one, with Russia's economy so reliant on the energy sector, the U.S. should target |
| 0:35.8 | that nation's energy exports in order to be effective. |
| 0:38.3 | And two, Biden should simultaneously greenlight domestic energy production to offset any oil shortages. |
| 0:44.3 | It's a policy the GOP has been pushing for years, and that is in many ways, and tithetical to the administration's climate goals. |
| 0:52.3 | But now, calls to ban Russian oil are gaining bipartisan traction on Capitol Hill. |
| 0:57.0 | And with the blessing of President Volodymyr Zelensky, |
| 0:59.5 | Ukrainian officials are privately pleading with the Biden administration to cut Russian oil and gas off completely, |
| 1:05.5 | arguing that without doing so, President Vladimir Putin has a lifeline. |
| 1:09.5 | The issue is putting Biden in a bind, creating a damned if he does, damned if he doesn't |
| 1:13.5 | situation. |
| 1:14.5 | Here's why. |
| 1:15.5 | If he does block Russian oil, skyrocketing gas prices will go even higher. |
| 1:19.7 | On Wednesday, crude oil prices reached their highest level in more than a decade, which |
| 1:23.7 | will further inflate the cost of gasoline, which already averages 360 a gallon nationally. |
| 1:28.8 | While Russian oil and gas makes up a tiny fraction of U.S. energy supply, |
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