it is more than the price we paid a year ago. white house officials say they believe inflation will settle down but they can t tell me when. mitch daniels, former indiana governor said this administration is in denial. i hope that the white house in their denial of the possibility of a serious problem. i hope they re right. inflation is a regressive tax. it is a very unfair to savers and very dangerous to the future economy. in response to rising gas prices president biden not considering any energy policy reversals but an investigation. listen. president biden: recently we ve seen the price that oil companies pay for a barrel of oil begin to fall. the cost of gasoline at the pump for more american people
drill more to our gas prices go down. he knows with gas prices going up everything goals up because those truckers need the gas to deliver every single thing you need to buy in the grocery store. steve: watch the president say that yesterday at the white house. today gas prices are lower than they were early in this decade. but they are still high enough to create a pinch on working families. one key thing about the infrastructure bill that just passed the senate is there are no gas tax increases. no gas tax increases. but that s not enough. recently, we have seen the price oil companies pay for a barrel of oil begin to fall, but the cost of gaffes lien at the pump for more american people hasn t fallen. that s not what you would expect in a competitive market. we also made clear to opec, the major oil exporting nations of the world. that the production cuts made during the pandemic should be reversed as a global economic
good morning. you know, the administration and president refusing to acknowledge the fact that maybe some of his policies have led to that increased reliance on opec. instead the president will go after the gas companies, he says, as well as asking opec the oil cartel to make more oil. drill more oil. this can be seen in the inflation numbers here. look at this. you see used and new car prices are up but really the 41.8% increase in gas prices that hits everyone when they go to the pump. a recent fox news poll finds 67% of registered voter say recent gas price increases have caused hardship and the biden administration acknowledging that. rather than reversing policies than the ban of new licenses of drilling on federal lands the president will investigate the marketplace. president biden: recently we ve seen the price that oil companies pay for the barrel of oil begin to fall. the cost of gasoline at the pump for more american people
cost of gasoline at the pump for more american people hasn t fallen. that s not what you d expect in a competitive market. i want to make sure that nothing stands in the way of oil price declines leading to lower prices for consumers. so today, my director of the economic national economic council has asked the chair of the federal trade commission to use every available tool to monitor the u.s. gasoline market. and address any illegal conduct that might be contributing to price increases at the pump. while the cost of a barrel of oil is going down. we also made clear to opec, a major oil exporting nation of the world that the production cuts made during that pandemic should be reversed as a global economic recoveries in order to lower prices for consumers. the child tax credit stepping in into address the supply chain challenges come up my
pay for your groceries at the grocery store. my executive order opens up competition in the agriculture business. gives more farmers a chance to compete, which will give americans more food choices at lower cost. fourthly, we are taking action to address gas prices as well. today gas prices are lower than they were earlier in this decade, but they re still high enough to create a pinch on working families. one key thing about the infrastructure bill that just passed the senate, is there are no gas tax increases. no gas tax increases. i made that absolutely clear that i would not raise gas taxes, and i m glad everyone in the senate seemed to agree with that, but that s not enough. recently we ve seen the price of oil companies pay for a barrel of oil begin to fall. cost of gasoline at the pump for more american people hasn t