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The Playbook Podcast

Oct. 20, 2022: It’s the gas prices, stupid

The Playbook Podcast

POLITICO

News, Daily News, Politics, Government

3.9699 Ratings

🗓️ 20 October 2022

⏱️ 5 minutes

🧾️ Download transcript

Summary

There’s a reason White House chief of staff RON KLAIN checks AAA’s survey of gas prices every single morning. For all the well-informed punditry about whether this or that issue will be the terrain upon which 2022 rises and falls, today — with 19 days left until Election Day — it seems that the most salient issue in the election for most voters could be pretty straightforward: It’s the gas prices, stupid. Subscribe to the POLITICO Playbook newsletter Raghu Manavalan is the Host of POLITICO's Playbook Daily Briefing.Jenny Ament is the Executive Producer of POLITICO Audio.

Transcript

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0:00.0

Presented by Meta.

0:02.0

Hey, good morning, Playbookers. I'm Rogum Winovalin. It's Thursday. Maybe it really just all comes down to gas prices.

0:10.0

It's your Politico Playbook Daily Briefing.

0:16.0

There's a reason White House Chief of Staff Ron Clayne checks AAA survey of gas prices every

0:21.8

single morning. For all the well-informed punditry about whether this or that issue will

0:26.4

be the terrain upon which 2022 rises and falls today. With 19 days left until Election Day,

0:33.0

it seems that the most salient issue in the election for most voters could be pretty straightforward.

0:38.7

It's the gas prices, stupid.

0:40.7

Look closely at so many of the metrics people have suggested are determinative in the campaign,

0:46.2

from inflation rates to President Joe Biden's approval number, and it becomes clear, gas rules

0:51.2

everything around me.

0:52.6

As prices went down in the summer, Democrats' fortunes improved to the extent that it seemed

0:57.2

like they could buck history and hold onto power this November.

1:00.7

Not the Da Vinch back upward, polls have tilted in the GOP's favor.

1:04.7

Q Biden on Wednesday, as he unveiled a three-pronged approach to push gas prices down.

1:09.6

One, releasing the last of the 180 million barrels from the Strategic Petroleum Reserve

1:15.1

that he authorized back in March, two, calling for an increase in oil production, and three,

1:20.4

chastising oil companies for not passing savings on to consumers.

1:24.5

The truth of the matter is that numbers one and three are unlikely to result

1:27.9

in prices dropping in any meaningful way. They address a political reality, and number two

1:32.8

runs headlong into a complicated economic reality. Politico Oil and Gas reporter Ben Lafave

1:38.1

explains, the real reason oil companies aren't ramping up production as much as some would like

...

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