there isn t enough supply. and the bottom line is if we want lower gas prices, we need to have more oil supply right now. between ramping up production in the short-term and driving down demand in the long-term, we can free ourselves from our dependence on imported oil from across the world. look, i know gas prices are painful. i get it. my plan is going to help ease that pain today. i m going to continue to use every tool at my disposal to prkt you from putin s price hike. so the president was pretty candid that he wasn t quite sure if americans would feel much relief or when that might happen. this is certainly an ongoing pressure point for him. so first of all, this reliance on oil is certainly very different than what he pledged to try to move off that. he s been pushing that agenda. what more can he do?
norah. tonight, president biden is offering g.s.a. customers like the ones you see behind me a wartime bridge as he describes it to get through the fuel intensive demands of the summer until u.s. production picks up this fall. be so much at play on the global energy market, there s no guarantee what you pay to fill up will come down. i say enough. reporter: tonight, president biden on an unprecedented effort to ease the financial squeeze for fuel, placing the blame for recent jumps in global energy prices squarely on russia s war in ukraine. our prices are rising because of putin s actions. there isn t enough supply. the bottom line is, if we want lower gas prices, we need to have more oil supply right now. reporter: mr. biden announcing several new efforts including accessing a third of the nation s strategic petroleum reserve until october. i would call it the mother of all strategic petroleum releases. reporter: oil analyst tom kloza welcomes the news citing
president xi jingping against offering material support to russia whether weapons or interventions of sanctions and chinese officials have been surprised and dismayed to see the eu alliance so closely with the united states, especially with the russian sanctions, said a person familiar with official discussions in beijing a chinese official who spoke to the washington post on the condition of anonymity says beijing will resist any pressure from the eu to take sides on the ukraine invasion. president biden has reannounced the release of the strategic petroleum reserve release, the latest effort by the biden administration to rory gas prices. president biden continued to blame putin and the war in ukraine for the record high prices. our prices are rising because of putin s actions. there isn t enough supply. and the bottom line is if we want lower gas prices we need to have more oil supplied right
there isn t enough supply, and the bottom line is if we want lower gas prices, we need to have more oil supply right now. between ramping up production in the short-term and driving down demand in the long-term, we can free ourselves from our dependence on imported oil from across the world. look, i know gas prices are painful. i get it. my plan s going to help ease that pain today. and safeguard against tomorrow. i m going to continue to use every tool at my disposal to protect you from putin s price hike. hi again, everyone, it s 5:00 in new york. president biden there warning the american people that there would be a cost to defending democracy, specifically defending against russia s aggression and war in ukraine. it would mean sacrifice here at home, coming in the form of rising prices of goods, including prices at the pump.
4.22, higher in many states. nearly a dollar more in less than three months. the reason for that is because of putin s war, and now many people no longer buying russian oil around the world, i banned the import of russian oil here in america, republicans and democrats in congress called for it and supported it. the right thing to do. but i said at the time it s going to come with a cost. as russian oil comes off the global market, supply of oil drops and prices are rising. now putin s price hike is hitting american s at the pump, which brings me to the first part of my plan. to immediately increase the supply of oil, our prices are rising because of putin s action. there isn t enough supply, and the bottom line is if we want lower gas prices we need to have more oil supply right now.